Japan's Federation of National Public Service Personnel Mutual Aid Associations, known locally as KKR, announced Tuesday the selection of 10 money managers to actively manage Japanese equities for the ¥6.95 trillion ($64.5 billion) fund.
The list includes three global managers: Goldman Sachs Asset Management Co., T. Rowe Price Japan Co. and Pictet Investment Trust Co.
The remaining seven are Tokyo-based managers:
- Asahi Life Asset Management Co.
- MU Investment Advisory Co.
- Resona Bank Ltd.
- Nikko Asset Management Co.
- Nissay Asset Management Co.
- Sumitomo Mitsui DS Asset Management Co.
- Mitsubishi UFJ Trust and Banking Corp.
A KKR spokesman declined to say whether the 10 managers named Tuesday comprised an entirely new lineup for the fund's active domestic equity allocations or instead were additions to KKR's existing manager lineup.
The fund's annual report for the fiscal year ended March 31, listed 12 money management firms overseeing 15 active domestic equity mandates with combined assets of ¥251.6 billion — or 3.62% of KKR's overall portfolio.
Only three of the 12 — GSAM, Nissay and Nikko — remained on the list KKR released Tuesday. The other nine managing KKR money as of March 31 were:
- Tokyo-based Asset Management One Co.
- Amundi Japan KK.
- Capital International KK.
- Schroders Investment Management (Japan) Ltd.
- Nomura Asset Management Co.
- Fidelity Investment Trust.
- BlackRock Japan.
- Mizuho Trust & Banking.
- Sumitomo Mitsui Trust & Banking.
