Monthly Archives: March 2012

Pension funds don’t know what they are doing – it’s official

Parts of this article have been amended since it was first posted on 30 March Almost 90% of staff at pension plans that are run for small companies based in the same prefecture and involved in the same business sectors … Continue reading

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AIJ president launches unreality TV with Diet panel appearance

A pinstriped Kazuhiko Asakawa, president of AIJ Investment Advisors, admitted yesterday during a televised appearance before a Japanese parliamentary panel that his firm had lost 109.2 billion yen of clients’ money, for which he sort of apologised. An AFP report, … Continue reading

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Fund firms find Ustream: Great news that could get even better

A dozen independent asset management firms have jointly hit the airwaves in the wake of the AIJ scandal with a presentation on Ustream. The move is unprecedented and while it looks as though it could have been organised by an … Continue reading

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Long serving regional CEO of UBS resigns

Christof Kutscher has resigned from UBS Global Asset Management according to a story in Asian Investor which notes he has been one of the industry’s longest serving CEOs in Asia. Mr Kutscher joined the firm in 1995 and at the … Continue reading

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Teachers lay foundations for big move into property

The 700 billion yen Teachers’ Mutual Aid Co-operative Society has voted to invest in real estate for the first time in its 47-year history, Toru Higuchi, a general manager in the organization’ s asset managment  department told Bloomberg. As part of a … Continue reading

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REITs about to hit 20 trillion yen as institutions diversify

With Japan’s private and public property trusts bulking up to accommodate pension funds’ wish for diversification, the sector looks set to close the year well above the 17.8 trillion yen at which it started.  STB Research Institute puts the … Continue reading

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PIIGs fly out of Japanese insurers’ investment portfolios

Holdings at Japan’s eight life insurers and its three major casualty firms of bonds issued by sovereign and private entities in Portugal, Ireland, Italy and Greece contracted again the in quarter to 31 December 2011, according to an analysis by The … Continue reading

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200 bn yen missing from pension accounts 2: Why it happened

A lively chorus designed to ring firms’ tills and swell government departments’ budgets is accompanying the Financial Services Agency’s probe into how billions of yen in pension clients’ money comes to be missing from their accounts with AIJ Investment Advisors. … Continue reading

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Pension funds employ over 600 retired SIA and other officials

According to Japan’s Kyodo news agency, 646 retired central government officials, had landed jobs at 399 employee pension funds as of May 21, 2009 when 466 of them were serving in executive posts and 180 worked as line employees. The data include … Continue reading

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200 bn yen missing from pension accounts 1: How it happened

On 24 February Japan’s Financial Services Agency ordered AIJ Investment Advisors to cease operations for one month while it investigates “possible losses” of around 200 billion yen* from the accounts of 84 pension funds representing 539,650 scheme members and 344,299 … Continue reading

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