Massachusetts’s largest state pension manager is creating a program to increase engagement with diverse emerging managers while stepping up reporting requirements on diversity and inclusion for current investment managers.
The pension’s expanded due diligence questionnaire for investment managers seeks more diversity data.
The goal of the $90.1bn pension trust fund will be to commit at least 20% of its investment capital to diverse investment managers, based on racial, ethnic, gender and disability measures, according to David Gurtz, the Massachusetts Pension Reserves Investment Management Board’s deputy chief investment officer.
The Pension Reserves Investment Management (“PRIM”) Board manages the assets of the Pension Reserves Investment Trust (“PRIT”) Fund for public employee pension benefits on behalf of Massachusetts State Employees, Massachusetts Teachers’, and Boston Teachers’, as well as local participating retirement systems throughout the Commonwealth that elect to invest with PRIM.
Source: Wall Street Journal
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