Pensions
MassPRIM Returns 9.6% in Fiscal 2025
Massachusetts Pension Reserves Investment Management assets rose to $115 billion.
Tag: Massachusetts
Pensions
MassPRIM Reports 9.1% Return in 2024, Assets Reach $109.7B
PRIM’s returns in 2024 were driven by a boom in equities.
Pensions
Mass PRIM Achieves 9.9% Return in Fiscal 2024
Assets of the PRIT fund reached a record $105.3 billion at the end of June.
Pensions
Mass PRIM Allocates More Than $2B to Credit Managers in New Commitments
The pensions board approved $3.5 billion in total commitments, and saw its assets grow to $104.2 billion.
Regulation
Proposed Massachusetts Endowment Tax to Hit Harvard, MIT, 11 Other Schools
The 2.5% excise tax would target private institutions in the state with endowments of at least $1 billion.
Pensions
Mass PRIT Fund Returns Remain Up Despite Market Forces
Alternative investments helped the $95 billion pension fund outperform the markets in the most recent quarter, and the fund saw a $7.8 billion gain in the 12-month period that ended September 30.
Newsmakers
State & Municipal Treasurers Publish Letter Encouraging McCarthy to Make Deal on Federal Debt Ceiling
They say a default would be ‘catastrophic’ and devalue portfolios, damaging pension funds and 401(k) plans.
Newsmakers
Boston to Divest From Fossil Fuels, Tobacco, Private Prisons
The city’s mayor signed a bill to eliminate the controversial investments by 2025.
Pensions
Massachusetts COVID-19 Pension Bonus Bill a Boondoggle, Groups Warn
Opponents say the bill, which has no cost analysis, is too broad and would cost billions.
Asset Management Culture
Massachusetts’ Pension Fund Increases Corporate Diversity Standards
Board of $86.9 billion state fund also calls for portfolio companies to guarantee health care for workers.
Newsmakers
Massachusetts Pension Fund Returns 12.6% in 2020, Hits Record Asset Value
The state pension’s annualized returns beat the benchmark over the past one, three, five, and 10 years.
Asset Allocation
Slow Jobs Recovery to Impact Some State Credit Ratings
Hawaii recently saw a Fitch downgrade to AA, thanks to continued employment losses in the leisure sector.
Pensions
Local Pension Plans Benefited from Shifting Money to MassPRIM, Report Says
Push to consolidate underfunded small retirement programs under the state-level system is being considered in other states.
Asset Management Culture
Massachusetts Ramps Up Diversity Guidelines
The state’s PRIM Board will vote against nominees if less than 35% of the board is diverse in terms of gender and race.
Risk
MassPRIM Misses Fiscal Benchmark by a Hair
Fund’s private equity portfolio pulls returns to 6.1% as equities, timberland lag.