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Saturday, August 28, 2021

Rhode Island Pension Fund Reaches New All-Time High of $10.34 Billion

Pension Fund earns more than $2 billion over the last year 


The Rhode Island pension fund continued its strong performance, growing modestly during the first month of the new Fiscal Year ending June 30, 2022, with an all-time high of approximately $10.34 billion after gaining more than $2 billion in assets over the last year.  

 “My priority is to support economic opportunity and financial stability in Rhode Island, including strengthening the pension fund,” said Rhode Island General Treasurer Seth Magaziner. “Our Back-to-Basics investment strategy has protected the Pension Fund for those families whose livelihoods depend upon it while responsibly growing the fund’s assets to an all-time high.” 

During the month of July 2021, the pension fund returned 0.48%. The pension fund continues to outperform its long-term actuarial target return of 7.0% on a trailing basis, achieving annualized returns of 22.28%, 11.19%, and 10.45% for the trailing 1-year, 3-year, and 5-year periods, respectively, compared to a traditional 60 stock /40 bond benchmark return of 18.76%, 10.88%, 9.70% over the same periods.  

Additional information about the Rhode Island pension system, including the 'Back to Basics' investment strategy and performance, can be found online as part of Treasurer Magaziner's "Transparent Treasury" initiative at: 

All performance is reported on a "net of fees" basis.