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Rhode Island Pension Fund closes year with a record $10.3B sfgate.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sfgate.com Daily Mail and Mail on Sunday newspapers.
The Rhode Island Pension Fund continues to build upon the success of the last year, when it closed out 2020 at an all-time high, surpassing $9 billion in assets ....
Rhode Island Pension Fund Beats Benchmark with 11.9% Return in 2020 Portfolio gains roughly $876 million in last two months of year to raise asset value to a record $9.5 billion. Rhode Island’s state pension fund rallied at the end of last year, gaining close to $900 million during November and December alone, to end the year up 11.9% net of fees with a record high asset value of just under $9.5 billion. The record was set just a month after the Rhode Island Pension Fund surpassed the $9 billion threshold for the first time. The fund gained $303 million in December and nearly $573 million in November. The fund outperformed its benchmark, which returned 11.5% for the year, but underperformed a portfolio comprised of 60% stocks and 40% bonds, which returned 13.5%. The program’s annual assumed rate of return is 7%. ....
General Treasurer Seth Magaziner The Rhode Island Pension Fund reached an all-time high at the end of 2020, closing out December at $9.495 billion in assets and gaining more than $302 million in the month alone, General Treasurer Seth Magaziner s office announced this week. My number one priority is to support economic opportunity and protect the state s finances, including the Pension Fund, said Magaziner. Even in a time of extreme market volatility, my Back to Basics investment strategy has protected the Pension Fund for those families whose livelihoods depend upon it and has spurred growth, resulting in the fund closing out the year at an all-time high. ....
State pension fund earns nearly $573 million in November after losing 1.09% in October. The Rhode Island Pension Fund has surpassed $9 billion in assets for the first time, according to the state treasurer’s office, after it earned nearly $573 million in November. Rhode Island Treasurer Seth Magaziner said the fund has regularly outperformed its peers, which he attributed to the “Back to Basics” investment strategy he launched in 2016. Under the plan, the state reduced its investments in hedge fund strategies by more than $500 million within two years, and reallocated the funds to more traditional asset classes. “Since taking office, I’ve pledged to support economic opportunity and retirement security for all Rhode Islanders,” Magaziner said in a statement. “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’ inve ....