BlackRock Japan managed ¥18.2 trillion ($196 billion) as of March 31, making it the largest manager of Japanese occupational pension fund assets, according to the Japan Pensions Industry Database.
BlackRock's acquisition combined last year's 10th-ranked manager with No. 2 Barclays Global Investors Japan. Sumitomo Trust & Banking, with ¥15.1 trillion, and Mizuho Trust & Banking, with ¥11.2 trillion, took second and third place, respectively, this year, in part by winning huge mandates from government pension funds, according to JPID.
Other U.S.-based managers among the top ranked were: State Street Global Advisors (Japan) ranked fourth with ¥5.2 trillion; Northern Trust Global Investments Japan KK, eighth with ¥3.5 trillion; and Morgan Stanley Asset & Investment Trust Management., ninth with ¥2.7 trillion.
This is the first year Japanese managers have claimed more than half the available assets, according to the JPID. In the 12 months ended March 31, international money managers' share of Japanese occupational pension fund assets slipped relative to that of domestic players, who now run ¥52 trillion, or 55% of total assets.
The database tracks occupational pension assets via annual returns filed with the Japan Securities Investment Advisers Association.