Pensions
Rhode Island Pension Fund Beats Benchmark with 11.9% Return in 2020
Portfolio gains roughly $876 million in last two months of year to raise asset value to a record $9.5 billion.
Tag: Rhode Island
Risk
State Treasurers File Shareholder Action over Alleged Gilead Price Gouging
Pennsylvania, Rhode Island call for independent chair at biotech firm after it reportedly priced remdesivir at more than 500 times the cost.
Pensions
Rhode Island Pension Fund Surpasses $9 Billion
State pension fund earns nearly $573 million in November after losing 1.09% in October.
Asset Allocation
Rhode Island Pension Returns 3.8% in 2020 to Hit Record-High Asset Value
‘Crisis Protection Class’ defensive strategy helps portfolio double benchmark’s return.
Manager Selection
Former Wilshire President Joins Rhode Island Treasury as CIO
Andrew Junkin will lead the state pension system’s investment operations after 15 years at the consulting firm.
Regulation
Rhode Island Attorney Jailed for Collecting Pension Benefits of Deceased Client
Attorney pleads guilty to taking $234K over 12 years.
Corporate Moves
Rhode Island CIO Departs for Washington Hospital System
Alec Stais informed the state pension plan last month of the move.
Market Moves
Rhode Island Pension Plan Holds Down Losses Thanks to Treasuries, Algorithms
Although the first quarter was a wipe-out for plans, a surge in a special-strategy segment of the portfolio limited the damage in the smallest state.
Asset Allocation
Rhode Island Lost 9.5% But Performed Better Than Benchmarks
The state treasurer attributed an allocation into Treasuries and quant strategies for offsetting losses.
Coronavirus - COVID-19
Haves and Have Nots: Virus Effect Will Widen the Public Pension Divide
When the crisis abates, the gap between well-funded plans and the others will be even larger.
Asset Management Culture
Rhode Island Treasurer: Funds Won’t Be Raided
The state government secured an unprecedented $300 million in debt last week to tackle the coronavirus public health crisis.
Regulation
Rhode Island Pension Alleges Zuckerberg Overpaid 2019 Settlement to Avoid Personal Consequences
State Treasury says Facebook overpaid Cambridge Analytica settlement by $2 billion to win extra concessions from the feds.
Asset Allocation
Rhode Island Launches Offensive Against Assault Weapons and Private Prisons
State Treasurer Seth Magaziner cites perverse corporate incentives and escalating violence for pulling investments out of the two industries.
Asset Management Culture
US Supreme Court Declines to Review Cranston Pension Case
Rhode Island city had been sued for suspending police, firefighter COLAs.
Regulation
Rhode Island General Assembly Passes Religious Pension Bill
Legislation would require church plans to follow ERISA standards.