PROVIDENCE, R.I. - The Rhode Island Pension Fund continued its
recent strong performance in the month of April earning $79 million from
investment gains Rhode Island General Treasurer Seth Magaziner today told
members of the State Investment Commission.
"We are implementing our "Back-to-Basics"
investment strategy which is designed to provide more growth and greater
stability through more traditional investments," said Treasurer Magaziner.
"Since we adopted "Back-to-Basics" we have seen consistent gains
and are ahead of schedule in the move away from hedge funds."
"Staying focused on long-term growth and stability will
help us restore the health of our pension system and ensure that we never have
to go through another painful pension reform like the one in 2011,"
continued Treasurer Magaziner.
just two months remaining in the fiscal year, the fund has returned 9.8 percent
in the ten months since July 1, 2016, beating its own benchmark of
9.5 percent and a 60% stock/40% bond portfolio which would have
earned 8.8 percent.