The Massachusetts Pension Reserves Investment Management Board, Boston, expects its assets under management as of Nov. 30 to reach $30.7 billion, up $4.8 billion year to date, said Stanley P. Mavromates Jr., deputy CIO. Through Sept. 30, PRIM's assets were up about 20% for this year, good enough to rank it in the top 12% among public funds for the nine-month period, Mr. Mavromates said. For the third quarter, PRIM's performance beat out 98% of other public funds, he said.
Mr. Mavromates attributed the strong performance to its 5% allocation to emerging market equities and its 15% allocation to international developed market equities, which had year-to-date gains of 46% and 27% respectively, compared with a 25% advance for PRIM's domestic U.S. equities.
