Mass PRIM said it expects the strategy to lead to a significant fee savings. : In a bid to save on fees, Massachusetts Pension Reserves Investment Management Board (Mass PRIM) plans to make $750m (€629m) of internally-managed, direct real estate investments this year. Mass PRIM is one of the few pension funds in the US to have developed a direct real estate investment programme that does not rely on external investment managers. The $71.7bn pension fund made its first in-house direct deal in December 2016, acquiring 21 acres of land and three office buildings in Silicon Valley for $112m.