Japan’s Government Pension Investment Fund hired Nomura Asset Management, BlackRock Japan and Russell Investments Japan as transition managers.
An announcement Thursday on the website of the Tokyo-based ¥137 trillion ($1.14 trillion) pension fund giant said Nomura and BlackRock would handle domestic equity-related manager transitions for the fund; BlackRock would also oversee international bond-related transitions; and Russell would manage international equities-related transitions.
Asked if Thursday’s announcement was related to specific changes underway now in the GPIF’s manager lineup, a GPIF spokesman said in an e-mail that it was a matter of preparing “for future transitions.”
GPIF announced Oct. 31 it will double its targets for domestic and international equity allocations to 25% each from 12%, while slashing Japanese government bonds to 35% from 60%.
It couldn’t immediately be learned whether Nomura, BlackRock and Russell had been hired for a specific time period.
