Updated December 8 at 8:08am
Financial Services
734 results total, viewing 21 - 30
The R.I. State Retirement Commission last month decided to cut its roughly $1 billion investment into hedge funds in half, saying the asset has underperformed and cost the state too much in fees over the last five years. The precarious … more
The British vote to exit – or Brexit – the European Union last month roiled public pension systems, as uncertainty in the international marketplace sent investors scurrying for less-volatile asset classes. Seth Magaziner, Rhode Island’s general treasurer, oversees the state’s $7.5 billion public pension system. He talks with Providence Business News about Brexit, pension performance through the fiscal year that ended June 30 and the effectiveness of its current asset allocation and assumed rate of return. more
Sean McGarry is vice president and retirement plan service manager at Rockland Trust. He talks with Providence Business News about the recent U.S. Department of Labor ruling on the “conflict of interest” regulation, which is designed to protect investors from hidden fees in retirement-investment advice. McGarry breaks down the regulation and how it could affect clients and financial advisers.v more
(Updated 11:43 a.m. to reflect corrected information) The state pension investment fund lost approximately $471 million in fiscal 2016, marking a 5.9 percent reduction to $7.5 billion compared with fiscal 2015. more
(Updated 12:22 p.m.) Joseph M. Baptista is the president of Anchor Financial Mortgage Inc. in Pawtucket. The mortgage firm recently partnered with R.I. Housing and its new program, the Ocean State Grad Grant, which is designed to help new graduates purchase homes. He talks with Providence Business News about his firm, the program and the benefits to buying versus renting. more
The Hilb Group of New England last week launched a new division designed to help businesses with voluntary benefit products. more
(Updated 3:43 and 4:38 p.m.) The R.I. Commerce Corp. board on Monday approved a new loan program designed to benefit small businesses, approving $5.4 million in state funds for four development organizations and three micro lenders. more
Woodrow Crouch has been promoted to assistant vice president for Amica Life, at Amica Insurance. He previously served as a managing actuary. He holds a bachelor's degree in mathematics from Connecticut College. more
(Updated, 4:48 p.m.) Pointing to the currency crisis in Europe and China’s economic slowdown, Rhode Island’s general treasurer says volatility in the financial markets contributed to the 0.28 percent loss on the state’s pension investments last year. more
In some states, the more one drives, the more auto insurance costs. But in Rhode Island, the change in cost is negligible. more
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