RI Pension Fund Earns $125 Million in July

GoLocalProv Business Team

RI Pension Fund Earns $125 Million in July

Seth Magaziner
Rhode Island’s pension fund earned $125 million in July.

That 1.51 percent return on the month finished ahead of the fund's benchmark which returned 1.31 percent. 

"Public servants who spend their careers deserve to know that their pensions will be there for them in retirement and taxpayers deserve to have their public pension systems managed responsibly. My Back to Basics investment strategy is performing well and the health of the system continues to improve,” said General Treasurer Seth Magaziner.

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RI Pension Fund

According to Magaziner’s press release, in the 3-year period ending July 31, 2018 the fund also outperformed its benchmarks; earning an annualized return of 6.68 percent versus the plan benchmark return of 6.34 percent, as well as a traditional 60 percent stock/40 percent bonds portfolio, which would have earned 6.06 over the same period.

Over a 5-year period, the fund earned an annualized return of 6.95 percent, outperforming the internal benchmark return of 6.71 percent and a 60/40 benchmark, which posted 6.41 percent.

For more införmation on the fund, click here.


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