Japan's ¥150.7 trillion ($1.4 trillion) Government Pension Investment Fund is seeking information about multimanager fund investment that could eventually position the GPIF to develop its own multimanager funds for traditional asset classes such as stocks or bonds.
The request for information posted April 19 on GPIF's website said the information sought includes "investigation of typical multimanager fund investment schemes, to show pros and cons for (an) institutional investor like GPIF" as well as recommendations as to what scheme would be best suited to the GPIF.
A GPIF spokeswoman cited a third area of interest mentioned in the RFI — calling for systematic knowledge transfer programs to provide the GPIF with "necessary ... skills to create and run multimanager funds" — as "the most important point."
The RFI noted that GPIF is working on a new "manager of managers" investment mandate, in pursuit of alpha and investment know how. A GPIF spokeswoman declined to say when the mandate will be awarded.
The spokeswoman said the RFI's aim is to raise the level of sophistication of GPIF investment management operations that — with more than 10 external managers apiece for its allocations to domestic equities and overseas equities and more than 20 managers for its overseas bond allocations — already makes the organization "a kind of multimanager."
She declined to predict how the knowledge GPIF obtains with regard to multimanager operations could impact the fund's current approach to external managers.
The RFI said GPIF is looking for information on multimanager programs for long-only stocks or bonds, rather than multiasset strategies covering both stocks and bonds.
Interested parties can submit comments until noon Japan Standard Time on May 17 by email to [email protected]. Emails should be titled "(RFI) Information on multimanager fund" (Institution/Name).