Japan's Government Pension Investment Fund, Tokyo, is searching for managers in overseas equities, according to a document published on the website of the 108 trillion yen ($1.35 trillion) pension fund.
GPIF, the world's largest pension fund, did not say how much it would allocate or how many managers would be hired. The benchmark used for the overall overseas equities portfolio will be MSCI Kokusai, according to the document.
Proposals are due Aug. 15, and further information can be obtained by e-mail at [email protected]. Additional information could not be obtained by press time.
The fund's allocation to overseas equities was about 10% of total assets as of last Dec. 31. About 8% is invested in overseas bonds. The allocation to domestic bonds stood at 67% while another 13% in Fiscal Investment and Loan Program bonds issued by the Japanese government. Domestic equities accounted for 11% of total assets. The remainder is in short-term investments.