Shrewsbury Retirement terminates three equity managers, shifts mandates to PRIT - Pensions & Investments

Shrewsbury Retirement has terminated three of its equity managers and transferred their mandates to the PRIT Fund, the pooled investment vehicle managed by Massachusetts Pension Reserves Investment Management, according to Pensions & Investments. The decision followed a request-for-proposal process that began in July 2026. The mandates with the three managers were nearing their seven-year maximum, which provided the timing for the review.

The Shrewsbury Retirement Board operates under its own investment regulations, which authorize the board to modify its mandates within the framework of its investment guidelines. The publisher's reporting indicates the board has used this authority to consolidate public equity exposure into PRIT rather than retain separate active managers.

PRIT, which serves as the investment vehicle for Massachusetts public pension systems, ended fiscal year 2026 with a record balance of $129.5 billion as of June 30, 2026. The fund has posted strong results in recent years. Publisher coverage notes that the fund exceeded its 7% assumed rate of return for a third consecutive year in 2025, with 9.6% returns recorded in 2024.

The transition positions Shrewsbury's assets within a large, diversified pooled structure. Further detail on the names of the terminated managers and the specific dollar value of the transferred mandates was not available in the source material.