Japan’s PFA brings record 40% of savings in-house
The nation’s seventh largest institutional investor terminated or did not renew six manager mandates and signed up or gave additional business to three more in the year to March 31.
Japan’s Pension Fund Association (PFA) has brought 40% of its retirement savings under house management – a new record in proportion terms, according to its annual report released yesterday.
Meanwhile, money managers had six mandates terminated or not renewed in the year to March 31, and three were signed up for the first time or won additional business.
The ¥10 trillion ($128 billion) association managed 58% (or ¥3.4 trillion) of its ¥5.9 trillion bonds portfolio in-house, of…
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