Rhode Island pension fund earns $255M in January

RHODE ISLAND General Treasurer Seth Magaziner says his renewed strategy of moving nearly $500 million out of hedge funds and into more
RHODE ISLAND General Treasurer Seth Magaziner says his renewed strategy of moving nearly $500 million out of hedge funds and into more "traditional investments for growth and stability" has contributed to the state pension fund's robust growth, which earned about $255 million in January, representing a 3 percent return net of fees. / PBN FILE PHOTO/MICHAEL SALERNO
PROVIDENCE – The state pension fund earned $254.8 million in January, representing a 3 percent return net of fees. The $8.6 billion fund outperformed both its benchmark plan and a standard 60-40 equity-to-fixed income benchmark, which returned 2.95 percent and 2.92 percent, respectively. “Rhode Island’s pension fund continues to grow stronger and healthier,” said Seth…

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