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1540 WADK.com Updates

Treasurer launches new initiatives to increase transparency

Treasurer Seth Magaziner says Rhode Island will only invest in funds from now on that allow their performance, fees, expenses and liquidity to be made public.

Magaziner says the public has a right to know where the money is invested and how it's performing. He says he's asking the state's existing fund managers to comply too.

The new investment policy is one of several initiatives Magaziner announced Tuesday to increase transparency.

The treasurer's website now has a data portal for publications and datasets the office produces. For the first time the office is reporting investment-related fund expenses charged to the state's pension portfolio.

There's a new calendar for contract end dates and proposed dates for new requests for proposals.

Magaziner says a commitment to transparency will produce better financial results.

 

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