Government Pension Investment Fund, Tokyo, is searching for a domestic and international equity index fund manager and several active domestic and international equity managers, said 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% of its assets in international equities and the remaining 80% in domestic and international fixed income, with a small amount in cash.