RI public-employees pension fund reached an 'all-time high' with $9.5B in assets in 2020
PROVIDENCE - Rhode Island's public-employees pension fund "reached an all-time high" at the end of 2020, with $9.495 billion in assets, according to state Treasurer - and anticipated 2022 candidate for governor - Seth Magaziner.
More specifically, he said: The fund grew by $302 million in 2020, "despite COVID-19 market volatility."
Rhode Island General Treasurer Seth Magaziner
Crediting his own "back to basics'' investment strategy for the gains, Magaziner said:
"The Rhode Island Pension Fund has consistently outperformed its peers; it performed better than 87 percent of similar funds in the 2020 fiscal year. And with 2020 at a close, the Pension Fund has now significantly outperformed its own plan benchmark, earning 11.87% on the year compared to the plan benchmark return of 11.49%."
Read more: https://www.providencejournal.com/story/news/politics/2021/01/28/ri-public-employees-pension-fund-hit-all-time-high-9-5-b-2020/4291722001/
