RI Pension Fund Earns $106 Million in February

Name: Go Local Prov
Price range: $

Sunday, March 31, 2019

GoLocalProv News Team

The Rhode Island pension fund earned $106 million from investments during the month of February for a 1.31 percent return.

"Rhode Islanders who devote their careers to public service deserve the dignity of a secure retirement. As long-term investors, our goal is to provide long-term growth and stability that will offer our members the financial support they need when they retire,” said General Treasurer Seth Magaziner.

According to the Treasurer’s office, the performance was driven by the investments in the global stock market.

GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST

In the 3-year period ending February 28, 2019, the fund also outperformed benchmarks earning an annualized return of 9.21 percent versus the plan benchmark return of 8.98 percent and a traditional 60 percent stock/40 percent bonds portfolio which would have earned 8.42 percent.

For more information on the fund, click here.

Editor's Note: A previous version identified the performance was for the month of January; it has been corrected to reflect it was for the month of February.