Monthly Archives: April 2014

More exposure to equities coming for pooled pension accounts

Greater exposure to both domestic and foreign stocks seems to be coming to companies which invest all or part of their Fund or Covenant DB retirement schemes via pooled accounts at Big Four trust banks in the financial year which … Continue reading

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Life cos tend to caution not big shifts in asset allocation

Japan has some of the world’s biggest life insurance firms and Reuters excellent semi-annual poll of the sector, published yesterday, shows the assumptions on which the asset allocation of giants such as Nippon Life will be made in the six … Continue reading

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The case for bond market innovation as Abe’s fourth arrow

This blog recently noted (in Ito talks MoF’s books, draws bulls-eye round where arrow lands, archive 27 March), that: ‘For all the talk of the huge amount of household savings held in yen, last year saw a mere 68 issues … Continue reading

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Mutual funds’ sterling-denominated holdings up almost 60%

What was that about two rainy, tea-drinking, monarchies on islands near continents they have historically feared but from where much of their culture comes? Mrs Watanabe has discovered the other one. At 1,034.4 billion yen on 31 March, retail mutual … Continue reading

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Few surprises in year-end investment trust market shares

When Morning Star revealed earlier this month that FIL Investments’ US High Yield Fund had overtaken Kokusai Asset Management’s Global Sovereign Open as the biggest retail bond offering by assets in Japan, the move was widely reported. Yet an analysis … Continue reading

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Government Pension Investment Fund’s new investment panel

With the start of a financial year the Ministry of Health, Labour & Welfare has put in place a new investment committee at the Government Pension Investment Fund which could see a reinvigorated approach to the allocation of GPIF’s portfolio. … Continue reading

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Tokyo’s foreign fund firms pay more than locals – here’s why

Staff compensation accounts for 39% of total expenditure at Tokyo’s overseas–headquartered fund managers but only 26.3% at their Japanese counterparts, a recently published study by Cerulli Associates and Nomura Research Institute shows. The existence of this difference has been known for … Continue reading

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GPIF seeks managers for bond portfolio charting new course

The Government Pension Investment Fund, the world’s largest institutional investor, is seeking active and passive managers of foreign high-yield bonds, inflation linked bonds and emerging market debt, all of which are being added to its portfolio for the first time. The deadline … Continue reading

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Tokyo gets stewardship code, foreign markets fail to piggyback

The Financial Services Agency is inviting institutional investors to sign up to a new stewardship code designed to help institutional investors meet their ‘responsibilities’…to enhance the medium-to long-term investment return for their clients and beneficiaries …  by improving and fostering … Continue reading

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GPIF radically revises approach to domestic stocks, its way

The Government Pension Investment Fund scored a quiet triumph at the weekend when it announced, in its own time, the introduction of new yardsticks for measuring the performance of the domestic equities segment of its portfolio, appointed fund managers to produce … Continue reading

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