More Success for MassPRIM

September 10, 2019

The investment arm of the Massachusetts State Pension Fund – MassPRIM – is consistently an industry leader in employing best practices and generating strong returns for the 300,000 public employees, retirees and their families that rely on PRIM to help secure their financial futures.

In July, PRIM’s industry-leading private equity portfolio once again earned the top rank nationwide for PE returns among public funds from the American Investment Council.

Then Michael G. Trotsky, CFA, the Executive Director and Chief Investment Officer of PRIM, was recognized by Institutional Investor with its Lifetime Achievement Award. Michael is also Chair of the CFA Society Boston and for nine years has presided over an incredible track record for the $74.8 billion Pension Reserves Investment Trust fund.

“In his nine years of shepherding the $74.8 billion state Pension Reserves Investment Trust, the pension executive and former hedge fund manager has built a benchmark-beating portfolio, put together an award-winning team of investors, and nearly doubled the fund’s assets under management while saving the retirement system hundreds of millions of dollars in excess costs,” Institutional Investor said of Trotsky, in an August 19 piece about the Lifetime Achievement Award.

MassPRIM’s #ProjectSAVE initiative is one of the most innovative programs of value enhancement and cost savings in the industry. PRIM’s direct investment in major real estate assets and its approach to hedge fund and alternative investments are also cutting edge. Last February, MassPRIM became one of the first large public funds to adopt the Global Investment Performance Standards (GIPS) established by the CFA Institute.

“My father was a stock market junkie — he loved it, but he wasn’t so successful at it,” Trostky told Institutional Investor. “I always thought there was a better way, and I learned from him my deep-seated personal investment philosophy, which is that I am basically a contrarian at heart.”

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