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Rhode Island Employees’ Retirement System returns 7.4% for year

Seth Magaziner
Seth Magaziner

The $7.7 billion Rhode Island Employees' Retirement System, Providence, returned 7.4% net of fees for calendar year 2016.

State Treasurer Seth Magaziner announced the return at the monthly meeting of the Rhode Island State Investment Commission, Providence, on Wednesday. The return was above the system's internal benchmark of 6.3%.

Among the strongest performing asset classes in 2016 were infrastructure, which earned an 18% return; real estate, which earned 9.8%; and private equity, which returned 9.2%.

Annual returns for the other asset classes could not be learned by press time; treasury spokesman Evan England could not be immediately reached for comment.