Massachusetts PRIM
PensionMassachusetts · as of 2024
AUM
$100B
Held in U.S. securities
$38B
38% of AUM
Return target
7.0%
Asset allocation policy
Target weights set by the board in the plan's Investment Policy Statement.
| Asset class | Target | $ value |
|---|---|---|
| Global equity | 39% | $39B |
| Private equity | 16% | $16B |
| Core fixed income | 12% | $12B |
| Real estate | 10% | $10B |
| Hedge funds (PRIT) | 9% | $9B |
| Value-added fixed income | 8% | $8B |
| Timber / natural resources | 4% | $4B |
| Portfolio completion strategies | 2% | $2B |
Holdings overview
PRIT is structured as an open-end pool that participating local plans buy into. Hedge fund allocation relatively large vs. peers; meaningful timber program inherited from late-1990s diversification.
Board mandates
- PRIT Fund pools assets for the State Employees and Teachers retirement systems plus ~100 local plans.
- Climate-related divestment requirements applied per state legislation (e.g., Russia, Sudan, fossil-fuel screens for certain participating plans).
- Roughly 70% externally managed; emerging managers program targets ~10% of new commitments.
Source: www.mapension.com