Japan's Federation of National Public Service Personnel Mutual Aid Associations, also known as KKR, announced it awarded active overseas equity allocations to four global money managers.
A posting on the Tokyo-based pension fund's website Monday said KKR hired Wellington Management Japan, T. Rowe Price Japan, Harris Associates and American Century Investments to actively manage overseas equities for its ¥6.84 trillion ($60 billion) portfolio.
A KKR spokesman declined to provide further details.
KKR's annual report for the fund's latest fiscal year ended March 31 showed an allocation of just less than 3% of the KKR portfolio, or ¥203.2 billion, to actively managed equities, or roughly 14% of a total equity weighting of ¥1.43 trillion.
It won't become clear whether the four managers s are additions to KKR's lineup or replacements for existing managers until the fund releases its annual listing of managers and amounts assigned following its fiscal-year close.
As of March 31, KKR listed the following active equity managers: BlackRock Japan, overseeing two mandates with combined assets under management of ¥53.4 billion; MFS Investment Management, with two mandates and a combined ¥31.1 billion; Baillie Gifford Overseas, with ¥15.9 billion; AllianceBernstein, ¥15.8 billion; Morgan Stanley Investment Management, ¥15.4 billion; State Street Global Advisors, ¥15 billion; Wellington Management and Schroder Investment Management, ¥14.7 billion each; Goldman Sachs Asset Management, ¥13.9 billion; and Allianz Global Investors Japan, ¥13.4 billion.
