RI's Pension Fund Earns $323 Million in January
GolocalProv Business Team
RI's Pension Fund Earns $323 Million in January
The fund earned a 4.14 percent return that finished ahead of investment benchmarks which returned 3.60 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. Our investment strategy is designed to provide long-term growth over time and stability when markets are challenging,” said Rhode Island General Treasurer Seth Magaziner.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTRI’s Pension Fund
In the 3-year period ending January 31, 2019 the fund also outperformed benchmarks earning an annualized return of 8.67 percent versus the plan benchmark return of 8.52 percent and a traditional 60 percent stock/40 percent bonds portfolio, which would have earned 7.81 percent.
The fund, like much of the market, had taken a hit in December of 2018.
PHOTOS: Inauguration Day - January 1, 2019
