Rhode Island Pension Fund
Continues to Deliver Strong Returns in August
The State's investment strategy
earned 0.96 percent during the month of August, outperforming its benchmark
return of 0.88 percent and continuing to deliver strong returns for the pension
fund.
"Our members deserve a
stable and healthy retirement system," said Treasurer Magaziner. "The
Back to Basics investment strategy, which we began implementing two years ago,
continues to deliver both growth and protection for the pension fund and our
members."
Over the past three years, the
portfolio also outperformed its benchmarks, returning 8.20 percent annually,
while the plan's investment benchmark earned 7.96 percent. A traditional
investment portfolio -60 percent stock and 40 percent bonds- would have earned
7.84 percent during the same period.
Treasurer Magaziner's Back to Basics investment strategy was adopted in September 2016 and included the decision to exit most hedge funds, investing in more traditional strategies.
Investment information, including
performance, fees and expenses, information about managers, the status of the
fund, and public records requests are available on line at the Treasurer's
Transparency portal at: investments.treasury.ri.gov
All performance is presented net
of fees and expenses.