PROVIDENCE – The state pension fund continues to reach record highs, with $10.42 billion as of Aug. 31, according to the R.I. Office of the General Treasurer.
The latest growth caps off a $2 billion gain in fiscal 2021, which ended June 30, according to the release.
In August alone, the pension fund returned 1.25%, outperforming its long-term 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.
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Nancy Lavin is a PBN staff writer. Email her at Lavin@PBN.com.
