In the investment world, few if any sages are more respected than the Oracle of Omaha himself, Berkshire Hathaway chairman Warren Buffett.

So when facing market turbulence, Michael Trotsky, the executive director of the state Pension Reserves Investment Management board, hews closely to the advice Buffett offered in his 1987 letter to shareholders: “insulate … thoughts and behavior from the super-contagious emotions that swirl about the marketplace.”

Keeping calm, per Buffett’s advice, apparently has paid off for Trotsky and his nearly 70-person team at the PRIM board. The Pension Reserves Investment Trust fund hit a new record balance of $115.4 billion at the end of June, reflecting a 9.6 percent net return for the fund, above the 7 percent goal established by state actuaries. They plan to report on the success to the full board on Thursday.

For the first time since 2019, all seven of the fund’s major asset classes posted positive returns. The greater the annual fund return, the less money from the state’s general fund is needed to pay for state employees’ pensions over time. (PRIM also manages money for about 100 local and quasi-public government funds within the fund.)

In comparison, the Standard & Poor’s 500 stock index rose 14 percent over the same time, but not without considerable volatility, particularly during the first several months of the current Trump administration as investors suffered whiplash from various tariff announcements. (Stocks represent about 40 percent of the PRIT fund.)

During that turmoil, Trotsky said he again turned to the Buffett quote for inspiration.

“We just had to keep our heads down and focus on what we can control,” Trotsky said. “Obviously this year is full of a lot of emotions. We just try to tune it out and look at the opportunities that present themselves.”

State Treasurer Deb Goldberg, who chairs the PRIM board, issued a statement praising the PRIM staff and noting that a large gain like this one helps secure the retirees’ pension benefits and supports the state budget. The State Retirement Board typically draws nearly $800 million a year from the PRIM fund to pay retiree benefits, although the pension fund should become self-sustaining roughly a decade from now.

“We try to design a portfolio that will perform well in all markets,” Trotsky said. “The investment business is not about taking no risks. It’s about paying the right price for any risk.”

This is an installment of our weekly Bold Types column about the movers and shakers on Boston’s business scene.

Jon Chesto can be reached at jon.chesto@globe.com. Follow him @jonchesto.