Correction: The managers were hired for developed market equities, ex-Japan. Incorrect information on the mandate was in an Aug. 14 P&I Daily story.
Japan's Government Pension Investment Fund, the ¥219.2 trillion ($1.58 trillion) backbone of the country's retirement system, announced Wednesday it has hired 13 money managers to oversee 14 mandates for developed market equities, ex-Japan.
The latest round of hiring comes roughly eight months after GPIF hired 16 new managers to oversee 19 U.S. and Canadian equity-focused mandates.
The new managers, which entered into contracts with GPIF on June 21, according to materials posted on GPIF's website, include bulge-bracket firms such as BlackRock, J.P. Morgan Asset Management (U.K.), Fidelity Institutional Asset Management and BNP Paribas Asset Management.
But GPIF hired smaller managers as well, such as Montrusco Bolton Investments, a Montreal, Quebec-based firm overseeing $10.7 billion in assets, and Osmosis Investment Management U.K., a London-based sustainable investments boutique with $13.6 billion in assets under management.
The announcement on GPIF's website provided no information regarding the size of each firm's mandate or what the scope of their investments would be. The other managers hired are Nomura Asset Management Co. (two mandates), Hotchkis and Wiley Capital Management, Royal London Asset Management, Man Numeric, Epoch Investment Partners, Edmond de Rothschild Asset Management (France) and Jupiter Asset Management.
