Monthly Archives: December 2012

Hitachi Ltd pension fund Japan’s biggest by a wide margin

With assets of a hefty 674.6 billion yen* at the financial year end on 31 March 2012, the pension fund of Hitachi Ltd remains by far the largest defined-benefit scheme serving Japan’s private company employees, figures submitted to Nenkin Joho … Continue reading

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Poll suggests conservative shift in pensions asset allocation

Equity markets of all kinds are out of favour with Japan’s corporate pension funds. So says a survey of chief financial officers at “major listed companies”, reported in the [subscription only] Nikkei. CFOs typically bear responsibility for “covenant” defined-benefit retirement schemes … Continue reading

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Shaft of light on secretive business shows steady state

The number of mandates issued by Japanese pension funds to asset managers authorised to do business in the country fell 0.27% in the quarter ending 30 September to 5,268. At the same time the value of mandated assets fell 7.7% … Continue reading

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Life insurers’ JGB holdings at record levels … and growing

At the financial half-year close on 30 September, Japan government bonds accounted for a record 44.1% of Japanese life insurance companies’ investment portfolios totalling 328.8 trillion yen, an analysis by the Japan Pensions Industry Database of numbers from the Life Insurance … Continue reading

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Oops – Global pension assets study omits world’s biggest fund

According to TheCityUK’s [sic] latest annual report on worldwide assets under professional management, the value of Japan’s pensions portfolios at the end of 2011 was US$1,470 billion – which it gives as equivalent to 25% of the country’s GDP – and is invested 9% … Continue reading

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GPIF dips below benchmarks again but outlook better for Q3

Two of the giant Government Pension Investment Fund’s four portfolio components missed their performance benchmarks in the quarter ending 30 September, the half-way point in its financial year. Domestic bonds account for 52.4% of GPIF’s 100+ trillion yen holdings and … Continue reading

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