Rhode Island Pension Fund Continues Strong Investment Performance in March 

Published on Wednesday, April 27, 2022

Rhode Island pension fund consistently outperforms benchmarks, other similar-sized pension funds

 

The Rhode Island pension fund continued its strong performance in March, outperforming benchmarks through the current fiscal year to date, as well as for the trailing one-year, three-year, five-year, and ten-year periods.  

“My administration has prioritized strong financial performance for Rhode Island teachers, nurses, first responders, and other community servants who deserve retirement security as well as for the taxpayers who help fund the system,” said Rhode Island General Treasurer Seth Magaziner. “Our 'Back to Basics' investment strategy is helping the pension fund reach historic highs while outperforming our peers.” 

The pension fund grew 1.64% during the month of March 2022, outperforming a traditional 60% stock / 40% bond portfolio return of 0.19%, and closed the month with a total plan value of $10.55 billion. The plan returned 5.04% during the current fiscal year to date, significantly outperforming a traditional 60% stock / 40% bond portfolio return of -2.33% during the same period.  

The plan returned 12.15%, 12.19%, 10.09%, and 8.50% during the trailing one-year, three-year, five-year, and ten-year periods, respectively, outperforming a traditional 60% stock / 40% bond portfolio, which returned 2.70%, 9.16%, 8.05%, and 7.06% during the same periods.  

The Rhode Island pension fund outperformed 92% of public pension plans in 2021, continuing the consistent outperformance the Rhode Island plan has achieved under Treasurer Magaziner’s ‘Back to Basics’ Investment Plan. 

According to the InvMetrics Public DB Database, which tracks the performance of 594 public pension plans, Rhode Island outperformed 92% of pension plans in the database in 2021, achieving an annualized return of 17.3%, significantly ahead of the median large public pension plan performance of 13.9%. According to InvMetrics, Rhode Island has outperformed most public pension funds in three of the last four full fiscal years. 

Additional information about the Rhode Island pension system, including the ‘Back to Basics’ investment strategy and performance, can be found online as part of Treasurer Magaziner's “Transparent Treasury” initiative at investments.treasury.ri.gov

All performance is reported on a “net of fees” basis.