PROVIDENCE, RI – The Employees Retirement System of Rhode Island (ERSRI) achieved positive investment returns in July, earning 2.37% as its fund balance increased by more than $150 million to $7.65 billion.
"The Employees Retirement System achieved positive performance in July through a diversified investment strategy designed to keep our state pension system moving forward on a healthier path," Treasurer Magaziner said. "I still believe we can do better. The investment study I launched earlier this year continues, with the goal of finding ways to further improve performance."
July marked the state pension system's fifth consecutive month of positive investment performance. All asset classes in the portfolio achieved positive returns on the month. Non-U.S. public equity was the leading performer at 5.02%.
Since the beginning of the year, ERSRI has returned 5.10%, beating its benchmark by 0.32%.
The pension system has achieved net investment gains of approximately $350 million since Treasurer Magaziner took office.