Market watchers welcomed a decision by Japan's largest pension fund manager to revamp its conservative Japanese stock investing strategy.
While some hailed it as the biggest change in the history of the fund nearly ¥130 trillion ($1.26 trillion), others characterized it as a largely symbolic step toward the more significant step of increasing the fund's stock allocation.Japan's Government Pension Investment Fund said Friday that it picked 14 new active stock investment managers and added three more benchmarks to its buying strategy.
The new benchmarks for the fund include MSCI Japan, Russell Nomura Prime and the Tokyo Stock Exchange's new JPX-Nikkei 400. Previously the GPIF had only used Topix, an index of about 1,700 shares as a benchmark.
Source: WSJ
The new benchmarks for the fund include MSCI Japan, Russell Nomura Prime and the Tokyo Stock Exchange's new JPX-Nikkei 400. Previously the GPIF had only used Topix, an index of about 1,700 shares as a benchmark.
Source: WSJ
