The Rhode Island pension system earned more than $450 million from investments in the month of April as the Back to Basics investment strategy continues to provide growth and stability for Rhode Islanders through the Covid-19 crisis.
April's performance is the most recent in a series of positive news for the state's pension fund, as published peer data showed Rhode Island outperformed 95% of other public pension plans in the country during first three months of 2020. This outperformance was largely due to the implementation of a Crisis Protection Class which earned 15.1% in the first quarter of 2020, a period in which global stock markets suffered double-digit declines.
April's 5.75% monthly return brought the total value of the fund to $8.3 billion as of April 30, 2020.
Detailed information about the Rhode Island pension system, including the 'Back to Basics' investment strategy, performance, and information about its managers are published online as part of Treasurer Magaziner's "Transparent Treasury" initiative at: investments.treasury.ri.gov.
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Contact: Evan England (401) 222-2240 | (401) 439-2199 (mobile) firstname.lastname@example.org