Japan's Pension Fund Association for Local Government Officials, known as Chikyoren, hired one overseas real estate manager, another to oversee passive investments benchmarked to ESG-focused indexes and three managers for active domestic equity allocations.
A posting to Chikyoren's website on Friday said the ¥24.3 trillion ($234.2 billion) Tokyo-based pension fund hired hired Franklin Resources affiliate Clarion Partners, New York, to manage an allocation to overseas real estate.
Separately, the pension giant hired Sumitomo Mitsui Trust Bank to manage two passive ESG allocations, one benchmarked to the MSCI Japan ESG Select Leaders Index and the other benchmarked to the S&P/JPX Carbon Efficient Index.
Finally, the fund announced it had hired Asset Management One Co., Nissay Asset Management Corp. and Nomura Asset Management Co., all Tokyo-based, to actively manage allocations to domestic equities benchmarked against the Tokyo Stock Price Index, including dividends.
Chikyoren did not provide further details, including the size of the allocations.
