Asset Owner Directory

Massachusetts PRIM

The Pension Reserves Investment Management (PRIM) Board manages the assets of the Pension Reserves Investment Trust (“PRIT”) Fund for public employee pension benefits on behalf of Massachusetts State Employees, Massachusetts Teachers’, and Boston Teachers’, as well as local participating retirement systems throughout the Commonwealth that elect to invest with PRIM. PRIM’s mission is to generate strong risk-adjusted investment returns that help the Commonwealth of Massachusetts meet its pension obligations and alleviate potential taxpayer burden.

Country

United States

AUM ($B)

$99

Performance

Chief Executive

Michael Trotsky

Chief Investment Officer

Michael Trotsky

Chair

Deborah B. Goldberg

Asset allocation

PRIM believes that over the long‐term, asset allocation is the most critical component to achieve its investment objectives and meet its obligations. The adopted asset allocation that is available through investment in the PRIT Fund provides participating retirement systems with a diversified portfolio of active and passive investment strategies across several asset classes. In order to achieve our long-term return objectives, a significant portion of the Fund is allocated to global equity investments, which typically generate higher returns, but can also experience more volatility.

41.2% Global equity

15.7% Core Fixed income

6.8% Value-added Fixed income

8.2% Real estate

15.7% Private equity

2.8% Timberland

8.1% Portfolio completion strategies

1.3% Overlay

0.1%

Website

View the annual report

Global Pension Transparency Benchmark country system description

Asset allocation as of November 30, 2021. All information is as per the most recent annual report or other publicly available data via the fund's website

Top1000funds.com related articles

Sustainability Harvard - September 2022

ESG data will always be imperfect, despite its critical role

Professor Roberto Rigobon and Mass PRIM's Michael Trotsky explore the complexities of accurate data in ESG investment. Abandoning ESG due to imperfect data would be like abandoning the judicial system for the same reason, argues Rigobon the author of the controversial ‘Aggregate Confusion’ paper.

Ben HurleyOctober 10, 2022

Sustainability Digital – Sept 2021

ESG needs better data, better ratings and better products

Mass PRIM is involved in an MIT initiative to improve ESG with better data, ratings and ultimately products. Executive director and CIO, Michael Trotsky, explains how the ambiguity around ESG ratings creates acute challenges for investors trying to achieve both financial and social return.

Sarah RundellSeptember 23, 2021

Sustainability

MIT consortium builds ESG tools

Research into the data, measurement and methodologies of ESG rating agencies has resulted in the Aggregate Confusion Project, a research project led by academics at MIT to develop a set of ESG tools and methodologies that will become best practice.

Amanda WhiteJanuary 14, 2021

Harvard 2019

Investors want resilient portfolios

Pension fund CIOs want resilient portfolios that can weather all environments, delegates heard at the Fiduciary Investors Symposium at Harvard University.

Sarah JonesOctober 11, 2019

Sustainability Digital – March 2021

Industry inflection point on diversity

On International Women’s Day we spoke to Mass PRIM CIO, Michael Trotsky about diversity and inclusion. He was part of the CFA Institute’s diversity and inclusion project and believes the industry is at a perfect inflection point to make inroads into improving its score on diversity.

Amanda WhiteMarch 8, 2019

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