Link: https://www.ai-cio.com/news/rhode-island-pension-fund-beats-benchmark-11-9-return-2020/
Excerpt:
Rhode Island’s state pension fund rallied at the end of last year, gaining close to $900 million during November and December alone, to end the year up 11.9% net of fees with a record high asset value of just under $9.5 billion.
The record was set just a month after the Rhode Island Pension Fund surpassed the $9 billion threshold for the first time. The fund gained $303 million in December and nearly $573 million in November. The fund outperformed its benchmark, which returned 11.5% for the year, but underperformed a portfolio comprised of 60% stocks and 40% bonds, which returned 13.5%. The program’s annual assumed rate of return is 7%.
Author(s): Michael Katz
Publication Date: 4 February 2021
Publication Site: ai-CIO