Domestic bias helps Japan's Kewpie Pension Fund weather the storm

With a portfolio heavily allocated to domestic assets, Kewpie Pension Fund has so far weathered the worst of last year's storm in global markets. The namesake corporate retirement fund for the food manufacturer best known for its mayonnaise manages two funds with total assets under management (AUM) of around ¥70 billion ($471 million). The two funds had an annual return of 2.2% and 1.9% respectively for the financial year ending May 2022. That performance should be seen in the l…