The Rhode Island pension fund returned 1.69% in May, earning more than $140 million from investments, as Treasurer Magaziner's Back to Basics investment strategy continues to provide growth and stability for members of the Retirement System.

Over the 12-month period ending May 31, 2020, the system returned 6.6%, outperforming the plan's benchmark return of 5.6% for the same period. The Crisis Protection Class has been a key contributor to the system's 12-month investment performance returning 15.7%.

The Rhode Island pension system outperformed 95 percent of U.S. pension plans in the first quarter of 2020 amid the COVID-19 market crisis, according to Investment Metrics, the leading source of investment performance analytics for institutional investors.

Detailed information about Rhode Island's $8.4 billion fund, including the 'Back to Basics' investment strategy, performance, and information about its managers are published online as part of Treasurer Magaziner's "Transparent Treasury" initiative at: investments.treasury.ri.gov.

# # #

Performance is reported net of fees and expenses.

Contact: Evan England, Director of Communications (401) 222-2240 | (401) 439-2199 (mobile) evan.england@treasury.ri.gov