R.I. pension fund hits record $10.6B in October

PROVIDENCE – The state pension fund finished October with a record $10.6 billion, according to the R.I. Office of the General Treasurer.

The latest performance continues the record gains experienced by the Rhode Island pension fund, which earned back nearly $2.3 billion over the last year, the release stated.

In October, the pension fund returned 2.85%, beating its actuarial target of what it would have returned in a traditional 60-40 stock-bond portfolio.

General Treasurer Seth Magaziner in a statement credited the gains to his “Back to Basics” investment strategy, which includes a crisis protection class to shield against volatility.

Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.