The Rhode Island pension system earned more than $450 million from investments in the month of April as the Back to Basics investment strategy continues to provide growth and stability for Rhode Islanders through the Covid-19 crisis.

April’s performance is the most recent in a series of positive news for the state’s pension fund, as published peer data showed Rhode Island outperformed 95% of other public pension plans in the country during first three months of 2020. This outperformance was largely due to the implementation of a Crisis Protection Class which earned 15.1% in the first quarter of 2020, a period in which global stock markets suffered double-digit declines.

April’s 5.75% monthly return brought the total value of the fund to $8.3 billion as of April 30, 2020.