Pension Fund Achieves Best Fiscal Year Investment Performance in 25 Years
July 2021: General Treasurer Seth Magaziner announced that Rhode Island Pension Fund continued its strong performance under his “Back-to-Basics" investment strategy, closing the Fiscal Year ended June 30, 2021, with an all-time high investment gain of more than $2.2 billion for a total value of more than $10.3 billion in assets.
“As General Treasurer, my top priority is delivering economic growth and financial security for all Rhode Islanders,” said General Treasurer Seth Magaziner. “'Back-to-Basics' works- this year the pension system has reached an all-time high, we have achieved our highest annual return in 25 years, and retirees in the system are also receiving a much-needed cost of living adjustment.”
During the Fiscal Year, the Pension Fund returned 25.58%, outperforming its traditional 60% stock /40% fixed income benchmark, which returned 22.18% over the same time period. The average annual investment return for the pension system over the past 5 years has risen to 10.86%, compared to the 60/40 benchmark return of 10.12%.
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 investments.treasury.ri.gov.
Note: All performance is reported on a "net of fees" basis.