Government Pension Investment Fund, Tokyo, is searching for domestic and international equities index fund manager and several active domestic and international equity managers, according to Noboru Terada, executive investment officer of the 150 trillion yen ($1.3 trillion) fund.
The fund wants to raise the passive portion of its equity allocation to 80% from 50%. It plans to hire a new index fund manager first, then hire the active managers later this year. Both domestic Japanese and foreign investment managers will be considered.
The fund has 12% of its assets in domestic Japanese equities, 8% in international equities and the remaining 80% in domestic and international fixed income, with a small amount in cash.