Rhode Island Pension Fund Surpasses $9 Billion for the First Time
December 21, 2020: As 2020 nears a close, the Rhode Island Pension Fund surpassed $9 billion in assets for the first time in history, due in part to Treasurer Magaziner's "Back to Basics" investment strategy that has consistently outperformed Rhode Island's peers.
"Since taking office, I've pledged to support economic opportunity and retirement security for all Rhode Islanders, including those who spent their careers serving others," said Rhode Island General Treasurer Seth Magaziner. "Surpassing $9 billion is a sign that the pension system continues to get stronger, and to achieve this level of growth even amidst a global pandemic is further proof that our 'Back to Basics' investment strategy is working."
The Pension Fund earned $572.71 million in November and outperformed the plan's benchmark investment return.
Additional information about the fund, including the 'Back to Basics' investment strategy, performance, and detailed information about its managers are published 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.