Monthly Archives: March 2015

Life cos’ assets up 2% in Q3, portfolio composition steady

Investment assets at Japan’s 43 life insurance companies rose in the October-December 2014 quarter by 2.09% to reach 366.070 billion yen while the overall disposition of portfolios remained roughly the same with government bonds accounting for 40.7%, or 44.5% when local … Continue reading

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GPIF investment advisory committee sticks up for principles

The investment advisory committee of the Government Pension Investment Fund, the world’s largest institutional investor, stormed the moral high ground yesterday when it issued a statement of the principles governing investment of its 137 trillion yen hoard. Then came a … Continue reading

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State actors’ standing in Tokyo stock market looms ever larger

In an burst of either welcome frankness or astonishing naivete the Nikkei today confirmed that the Japanese government is once again engaged in stock market price-keeping operations — this time via the country’s central bank. The Bank of Japan, the … Continue reading

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Market movements alone make big shifts in pensions portfolios

For the first time since 2007 the close of the third financial quarter on 31 December saw segregated pension accounts at asset managers holding more money in domestic stocks, at 45,765.1 billion yen, than in Japanese bonds, at 39,641.0bn yen. … Continue reading

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Oops! Bloomberg makes a bit of a booboo on BoJ numbers

Flow of funds figures just published by the Bank of Japan show that at 57,209.8 billion yen on 31 December 2014 the value of  Japan Government Bonds and FILP obligations held by public pension funds was 4,796.6bn yen lower, a … Continue reading

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GPIF and Japan Post Bank: the top jobs nobody seems to want

Takahiro Mitani, president of the Government Pension Investment Fund, confirmed today that he will be staying on in the job after the end of his five-year term on 31 March because ‘I can’t just leave things up in the air … Continue reading

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Japanese investors to buy $300bn of US Treasurys by end 2017

(Bloomberg) — Back in the 1980s, the billions of dollars that the Japanese plowed into U.S. government debt reflected the Asian nation’s burgeoning economic might. Now, they’re at it again, only this time it’s to eke out any return they … Continue reading

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Long struggle for GPIF’s soul gets longer

Minister of Health, Labour & Welfare Yasuhisa Shiozaki (pictured left) will announce this week that Takahiro Mitani’s contract as head of the Government Pension Investment Fund will be extended when it expires on 1 April Reuters reports, citing officials said … Continue reading

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Call for Japan to set up sovereign fund – not based on GPIF

“Japan is the world’s largest net creditor, but has managed its financial portfolio in a far from optimal way, much to the detriment of its long-term prosperity. Rather than keeping its trillion-dollar hoard of foreign exchange reserves in low-return … … Continue reading

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Low yielding JGBs push institutions into real assets

When the Japan Exchange Group launches a market for infrastructure funds next month, local pension schemes will gain access to a promising alternative to low-yielding, 10-year government bonds – and the world will gain access to yen-denominated participation in building … Continue reading

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