Rhode Island's pension fund continues to deliver strong performance, earning $101.3 million in November, which brings investment earnings over the past 12-months to $1.1 billion, and the fund's value to a decade-high $8.34 billion.
"The health of Rhode Island's pension fund is improving," said Treasurer Magaziner. "Over the past year, our Back to Basics approach of common sense investing has been providing solid investment returns for our members."
In the past 12 months, 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.
Treasurer Magaziner announced the Back to Basics investment strategy in September 2016. In that time, the fund has exited seven hedge funds, reallocating $500 million into more traditional investments for growth and stability.
Detailed information about the fund's investment strategy, performance and managers are published online as part of Treasurer Magaziner's 'Transparent Treasury' initiative at: investments.treasury.ri.gov.
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