Tag Archives: asset allocation

Good-ish Q1 for Government Pension Investment Fund

GPIF enjoyed a time weighted return of 1.85% in the April-June period when it beat the benchmarks on two of its four portfolio components. While it lost 1.48% on the 51.55% it holds in domestic bonds that is still 0.03% … Continue reading

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How hedge funds misread Japanese institutions’ intentions

The hazards of heeding the willfully thoughtless reporting, prevalent in even the most distinguished media, about supposed shifts in Japanese pension funds’ asset allocation have been noted before in this blog – most recently in GPIF generated bliss bound to … Continue reading

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Japan’s massive life companies sector hunts abroad for yield

Foreign securities accounted for 16.2% of Japanese life insurers’ portfolios at the end of the financial year on 31 March. This is the highest proportion since 2007 when overseas holdings made up 18.8% of then total assets of 206.37 trillion yen. … Continue reading

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GPIF ponders clamping automatic asset allocation adjustment

Japan’s yield-hungry Government Pension Investment Fund clearly sees the Tokyo stock market as having further to run and is hanging on for greater gains. GPIF is currently discussing a proposal to put a temporary stay on the mechanism that would … Continue reading

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Buyers’ and suppliers’ forecasts see same products in demand

The results of J. P. Morgan’s latest annual survey of Japanese corporate pension funds’ allocation intentions provide a loud echo of an earlier Nomura Research Institute poll of the products for which fund managers see demand growing. Both pieces of … Continue reading

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Big rise likely in Japanese pension funds’ foreign investment

Japan’s pension funds will send a wall of money overseas once they become convinced that the seemingly inexorable rise of the yen has finally been tamed. Collectively worth 285 trillion yen*, the country’s retirement schemes rank in value only behind … Continue reading

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Fund firms’ assets under discretionary management hit record

Assets under discretionary management at Japan’s investment advisory firms were a record 138.7 trillion yen by market value at the close of the quarter ending 30 June 2012, according to a statement from the Japan Investment Advisors Association (JIAA)*. The amount … Continue reading

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Unlikely ever to be more than 16,000 corporate pension funds

Japan had 15,556 officially recognised defined-benefit company pension plans at the fiscal year end on 31 March 2012 – the first time the country has known how many job-based schemes it has since they were introduced 50 years ago. The … Continue reading

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JP Morgan polls pension funds’ investment intentions

Correction: the proportion of their assets which polled pension funds’ propose to keep in the general accounts of life insurers and trust banks is 9.3% not 1.1% as previously reported. The mistake arose from a mis-reading of graph 2 in the source. Japanese pension funds are … 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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