Our Approach to Stewardship

As a long-term investor, MassPRIM recognizes that fund performance is subject to a range of complex issues that evolve over time, including from environmental, social, geopolitical, legal and policy sources. Where such issues affect the risk-adjusted returns of the PRIT Fund, we have the responsibility to assess and address them. In doing so, we will adopt a research grounded, data driven, and strategic approach that is anchored to our fiduciary duty. This is consistent with MassPRIM’s core belief that every investment must be evaluated based on risk, return, and cost.

MassPRIM’s Stewardship efforts are specifically designed to protect and enhance the long-term sustainability and success of the PRIT Fund. Our Stewardship efforts will be evaluated based on the following objectives:

  • Enhance Risk/Return: Enhance the risk/return expectations of the PRIT Fund.
  • Create Measurable Impact: Create tangible impact by pursuing focused and measurable efforts.
  • Promote Leadership & Innovation: Promote thought leadership and explore opportunities for innovation.

MassPRIM’s current stewardship priorities include:

Advancing Diversity

Improving Measurement

Engaged Ownership

Stewardship and Investments

Advisory Committee

MassPRIM’s Stewardship Program is guided by the Board’s Stewardship and Sustainability Committee, which was established in February 2022. The goal of the Committee is to support the Board in overseeing all issues relating to the implementation of a Stewardship Framework and to support recommendations for the Board’s approval.

The program is supported by Veena Ramani, Director of Stewardship.

“PRIM’s focus on stewardship will enhance our ability to deliver strong returns for beneficiaries. The proactive approach will deepen our engagement with companies and investment managers, supporting more sustainable and inclusive practices. We know, and the research supports that addressing all organizational risks, not just those that appear immediately on a balance sheet, is critical to achieving our long-term financial goals.”—Treasurer Deborah B. Goldberg, Chair of the MassPRIM Board and the Stewardship and Sustainability Committee.