News

Happy Thanksgiving

From our families at Ocean State Charities Trust to yours !!

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Awards

The “Roger Schonning Award” was given to Jonnycake Center of Westerly

In recognition of their goal to provide food and social services to the residences of Washington County.

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Awards

The “Helen A. Marandola” was given to Saint Elizabeth Manor

In recognition for their dedication to provide comprehensive programs and care to those living at Saint Elizabeth Manor.

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Awards

The “Edward Ricci” was given to Star Kids

In recognition of their tireless work through tutoring and extra curricular activities to children enrolled in their programs.

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Market Review – March 2020

Market Review – March 2020

EQUITY:  US equity markets experienced their worst market decline in over a decade. Significant drawdowns moved most broad equity indices squarely into a bear market in the first quarter. The year began with strong positive momentum as investors’ rose-colored glasses, following the extraordinary returns in 2019, were able to sidestep escalated geopolitical tensions and an airstrike by the US against Iran. The long-waited US-China Phase One trade deal was signed in mid-January as markets were hitting all-time highs. Initial reports on the ensuing COVID-19 pandemic were largely ignored by US financial markets early on as a brief pullback in late January was followed by a climb to a new all-time high for the S&P 500 on February 19th. As the virus rapidly spread across the globe and landed on our doorstep in late February, investors in risk assets, such as equities, were ill-prepared for the impending onslaught.

FIXED INCOME:  Bond markets experienced dramatic moves throughout the quarter with no segment immune from severe price volatility and dislocation. As we have noted over the years, insatiable demand for fixed income and yield led to considerable inflows into all forms of fixed income securities. This phenomenon continued unabated during the months of January and February and reversed course considerably throughout March as COVID-19 hit US shores and the global economy began to shut down. As investors across the globe deleveraged and all headed for the exits at the same time, no asset class was spared from a wave of outflows.

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OSCT donates $50,000 to Boys and Girls Clubs in Rhode Island during the Coronavirus Crisis

OSCT has committed $50,000 to assist Boys and Girls Clubs across Rhode Island respond to the virus pandemic by helping them provide virtual learning to all its members during this time of crisis.  The announcement was made by Chairman John J. Partridge, Esq.

The Trust is dedicated to supporting charitable purposes that promote social welfare in the state by assisting citizens in the area of housing, health, education and welfare. “We are well acquainted with the good work done by the Boys and Girls Clubs across Rhode Island,” said Trustee Scott Avedisian. 

Echoing this statement, Trustees Amy Vitale, Esq., Jonathan K. Farnum and Mark Russell stated that “children served by the Clubs in our state will now have the ability to access more information through virtual learning.”

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POSTPONED: Citizens Bank Annual Endowment Incubator Financial Review

This event will be rescheduled for a later date.

PLACE: One Citizens Plaza, Providence, RI

DATE: Tuesday, March 24, 2020

TIME: 10:00am

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Coronavirus

OSCT is currently closed, but working remotely, due to the Coronavirus.  Stay well!

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Awards

The “Harry Kizirian Award” was given to Building Futures

In recognition of their dedication to provide comprehensive programs and career opportunities to all those who desire a job in the construction trade and enroll in the pre-apprenticeship program.

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Market Review – December 2019

Market Review – December 2019 

EQUITY:  US equities extended gains for a third straight month as the risk-on sentiment persisted throughout November.  The positive news flow on trade discussions between the US and China as well as the Fed rate cut helped drive gains domestically.  S&P 500 earnings season produced better than expected results with 75% of companies beating EPS estimates and 59% beating revenue estimates.

FIXED INCOME:  US bond markets declined modestly during November, as the Bloomberg Barclays US Aggregate returned -0.05%.  Treasury yields inched higher across the maturity spectrum.  The spread between 10yr and 2yr US Treasury yields steepened to 18 basis points.  The Fed appears content with current interest rate policy absent a material change in the economy. 

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