Considering Material Issues Across the Investment Process

MassPRIM believes that considering material issues is critical to stewarding the PRIT Fund for long-term value creation. MassPRIM’s efforts to this end include:

• Manager Selection: MassPRIM assesses the Environmental, Social, and Governance (ESG) capabilities of our managers as a part of our selection process. Our selection process across asset classes includes diversity, equity, inclusion, and belonging (DEI&B), ESG, and operational capabilities. Additionally, our consultants provide insights about our managers.
• Due Diligence and Monitoring: We also cover material factors in our ongoing monitoring of our investment managers and consultants. MassPRIM evaluates our consultants and investment managers on their efforts to consider material ESG risks and opportunities of our investments. Where appropriate, we use certifications to pursue ESG outcomes.

Practicing Good Governance at MassPRIM

MassPRIM seeks to lead by example:

• Full Transparency: For 20 consecutive years, MassPRIM was awarded the Government Finance Officers Association’s Certificate of Achievement for Excellence in Financial Reporting for the completeness and timeliness of our Annual Comprehensive Financial Report.
• Controlling Costs: In 2013, MassPRIM launched Project SAVE (Strategic Analysis for Value Enhancement), our systematic search for cost efficiencies. Project SAVE is now embedded in MassPRIM’s DNA to consistently reduce costs and improve efficiencies.