PROVIDENCE, RI: Rhode Island's pension fund continues
to deliver positive investment performance under Treasurer Magaziner's Back to
Basics strategy earning $64.2 million in investment gains in the month of
August which brings the fund's value to $8.17 billion.
"Our Back to Basics investment strategy continues to
deliver positive performance for retirees and taxpayers," said Treasurer
Magaziner. "I am committed to strengthening the state's finances for all
Rhode Islanders and that includes bringing added stability to the state's
The fund earned 0.79% net of fees in the month of August
2017, outperforming its own 0.77% benchmark and beating a traditional 60%
stock/40% bonds portfolio which would have only delivered a 0.58% return.
Similarly, the fund's 1-year return (for the 12 month period ending on August
31, 2017) is 11.27%, beating the plan's benchmark which stands at 10.95% and -
beating by more than 1% - a 60%/40% portfolio, which would have returned
Treasurer Magaziner announced the Back to Basics investment
strategy in September 2016, which moves the state out of most hedge funds and
into more traditional investments that are designed to grow when markets are up
and provide stability when markets are down.
Detailed information about the fund's investment strategy,
performance and managers are published online as part of Treasurer Magaziner's
'Transparent Treasury' initiative at: investments.treasury.ri.gov