Japan's ¥121 trillion ($1.22 trillion) Government Pension Investment Fund, Tokyo, announced Monday it had selected managers to oversee eight allocations to actively managed international equities.
According to a statement on the GPIF website, the fund selected: Amundi Japan; MFS Investment Management; Natixis Asset Management (subadvised by affiliate Harris Associates); Nikko Asset Management (subadvised by INTECH Investment management); BNY Mellon Asset Management (Japan) (subadvised by Walter Scott & Partners); Mizuho Asset Management (subadvised by Wells Capital Management); Mitsubishi UFJ Trust and Banking (subadvised by Aberdeen Asset Management); and Mitsubishi UFJ Trust and Banking (subadvised by Baillie Gifford Overseas)
Information regarding the size of the accounts and the specific strategies to be run by each firm wasn't provided.
For the fiscal year ended March 31, Amundi, MFS, Wells Capital (subadvising for Mizuho) and BNY Mellon affiliate Walter Scott were among 16 firms managing a combined ¥2 trillion in active international equity mandates for the GPIF.
That ¥2 trillion amounted to a 1.64 percentage-point chunk of the GPIF's 12.35% allocation to international equities as of March 31, with the remainder passively managed by six money managers, including State Street Global Advisors and BlackRock (BLK).