Global Pensions | 29 Jul 2010 | 11:41
US – The Massachusetts Pension Reserves Investment Management Board (Mass PRIM) beat its policy benchmark by 305 basis points in the past year helping to increase total assets by $3.6bn.
The fund manager returned 12.82% in the year ended June 30, according to figures released by the Massachusetts Treasury. The fund now totals $41.3bn.
The best returning asset class was value-added fixed income, which returned 32.75%. This includes high yield bonds, emerging market debt and bond loans. Private equity was up 17.84%; global equity, 14.28%; core fixed income, 11.74% and hedge funds, 7.13%.
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The annualised return since inception was 9.36%, topping its return assumption by 111 basis points.
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