RI Pension Fund Earns $101.3 Million in November

GoLocalProv Business Team

RI Pension Fund Earns $101.3 Million in November

Seth Magaziner
Rhode Island’s pension fund has earned $101.3 million in November, bringing the investment earnings to $1.1 billion over the last 12 months.

The fund’s value is now $8.34 billion, the highest it has been in a decade.

"The health of Rhode Island's pension fund is improving. Over the past year, our Back to Basics approach of common sense investing has been providing solid investment returns for our members,” said Treasurer Seth Magaziner.

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The Fund

The pension fund has earned 14.77 percent on its investment, and 1.23 percent in the month of November.

The November returns beat the fund's benchmark of 1.21 percent and a traditional 60% stock/40% bonds portfolio which would have earned 1.11 percent.

Magaziner announced the Back to Basics investment strategy in September 2016 -- this policy change reversed then-General Treasurer and now Governor Gina Raimondo's heavy investment in hedge funds.


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