Author Archives: Jo McBride

FILP bonds may weigh heavily on KKR portfolio for many years

The just-published first quarter report of the Federation of National Public Service Personnel Mutual Aid Association, usually known by its Japanese acronym KKR, shows it to be making very slow progress in re-balancing its portfolio away from bonds — and … Continue reading

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GPIF to help develop yardsticks for measuring…not a lot so far

In a press release issued yesterday, in Japanese only, the Government Pension Investment Fund announced that it and the World Bank will research what new yardsticks — ratings, benchmarks, guidelines and so on — are needed to help investors pursue … Continue reading

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Insurers active in both buying and selling foreign firms

MS&AD Insurance Holdings is to invest up to £800m ($1bn) in ReAssure Jersey One Limited, a UK unit of Swiss Re, in a two-stage deal which will see it first acquiring 5% of the target’s outstanding shares for £175mn by … Continue reading

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Government keeps Chikyoren’s bond allocations at a high 40%

The Pension Fund Association for Local Government Officials, usually known as Chikyoren, made an investment return of over 5.5% on both its main accounts last year, pushing the asset value of the Employee Pension Insurance Benefit Adjustment Fund to 10,461.3 … Continue reading

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After lean years Northern Trust appoints new head of Japan

Northern Trust has appointed Keishi Yamamoto to lead its asset management business in Japan. He replaces current president and representative director Hidehiro Nakayama who retires later this year. The hope must been that the new appointment can turn around Northern … Continue reading

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Pension Fund Association returns pull out of a nasty downturn

The year ending 31 March 2017 brought better times the Pension Fund  Association’s portfolio which closed the term up 5.96% with assets of 132.26 trillion yen, the PFA’s just-published preliminary annual report shows. The Association manages the world’s 26th biggest pool … Continue reading

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Banks’ securities investment portfolios contract by over 9%

Banks’ securities investment portfolios were worth 9.4% less at 31 March 2017 than a year earlier, according to figures from the Japanese Bankers Association. The drop follows a 6% decline in the 2015/16 year (see archive 2016/1o/10 Japanese banks’ securities … Continue reading

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Moves on pension obligations could spur corporate investment

The Financial Services Authority is looking to revise the accounting treatment of impairment losses from pension benefit obligations (PBO) and deferred tax assets, according to an article in the Nikkei. The FSA hopes to have the new requirements in place by … Continue reading

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Life cos’ allocations steady, Post supossedly set for change

The assets of Japan’s giant life companies hit yet another record on 30 June, the end of the first quarter of the financial year, when they reached 377,700 billion yen, a 0.6% rise on three months earlier and 2.9% up … Continue reading

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Regional banks see difficult second half investment conditions

A survey of 11 regional banks conducted last month by Bloomberg found them “turning toward private equity, hedge funds and real estate in search of higher returns” with five favouring so-called alternatives and three foreign bonds. Asset allocation will become … Continue reading

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