PROVIDENCE – The state pension fund earned $272 million in investments in the first month of the new fiscal year, according to the R.I. Office of the General Treasurer.
Treasurer Seth Magaziner credited the 3.21% July return to his “Back to Basics” investment strategy, including a crisis protection class to shield against volatile markets, as reasons for the state’s strong year-end performance.
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For the 12-month period ending July 31, the Rhode Island pension system brought in a 6.68% return, outperforming the 4.64% plan benchmark and ending the month with $8.7 billion in assets under management. The Crisis Protection Class returned 13.9% during the same period.
Nancy Lavin is a staff writer for the PBN. Contact her at Lavin@PBN.com.
