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, AS AT DATE OF ASSET ALLOCATION)

$97

Performance (%, 1YR)

5.6

Chief Executive

Michael Trotsky

Chief Investment Officer

Michael Trotsky

Chair

Deborah B. Goldberg

Asset allocation

21.3% Domestic Equity

11.5% International Equity

4.4% Emerging Markets Equity

0.1% Global Equity Emerging-Diverse Manager Program

14.5% Core Fixed Income

6.8% Value-Added Fixed Income

18.4% Private Equity

10.6% Real Estate

3.2% Timberland

0.1% Liquidating Portfolios

0.6% Overlay

8.6% Portfolio Completion Strategies

Website

View the annual report

Global Pension Transparency Benchmark country system description

Asset allocation as of June 30, 2022. All information is as per the most recent annual report or other publicly available data via the fund's website

Top1000funds.com related articles

Fees

MassPRIM’s laser focus on fees

MassPRIM credits a crucial element of its investment success to a laser focus on controlling costs. Costs, alongside risk and return, comprise three philosophical pillars that shape investment and in the fiscal year 2024 cost saving measures include no-fee co-investments in private equity and direct investments in real estate.

Sarah RundellAugust 14, 2023

Featured Story

Tough choices for PE investors in 2023: MassPRIM battens down

2022 was one of the most challenging years for private equity investment for years. Successful investment in today's volatile and challenging market involves vintage year diversification and steady pacing. And the MassPRIM investment team warns that aggregate headline US private equity valuations doesn’t tell the whole story.

Sarah RundellFebruary 7, 2023

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