Japan’s Chikyoren doles out local equity mandates
06 August 2014
Category: News, Asia, Global, Japan
By Maya Ando
Japan’s Pension Fund Association for Local Government Officials, known locally as Chikyoren, has appointed 18 active managers to invest in local equities.
The selected houses and their investment mandates are: Allianz Global Investors Japan (Underlying index - TOPIX); Wellington International Management Company (S&P Small Cap Index); MU Investments (S&P Small Cap Index); Capital International (TOPIX); State Street Global Advisors (Japanese equities Minimum Variance Index - customised index); Sompo Japan Nippinkoa Asset Management (SNAM Sustainability Index); DIAM Asset Management (Russell/Nomura Small Cap); Daiwa SB Investments (Russell/Nomura Small Cap); Tokio Marine Asset Management (TOPIX MID400); Nikko Asset Management (TOPIX MID400); BNY Mellon Asset Management (Russell/Nomura Small Cap); Fidelity (TOPIX); BlackRock Japan (TOPIX); Mizuho Trust & Banking (TOPIX); Sumitomo Mitsui Trust Bank (FTSE GWA Japan); Mitsubishi UFJ Trust and Banking (MSCI Japan Minimum Volatility Index); Meiji Yasuda Asset Management (TOPIX); and Resona Bank (FTSE RAFI Japan 350 QSR).
Established in 1984, Chikyoren has 2.81 million local civil servant members, managing 1.75 trillion Japanese yen (US$17 billion) as of the end of March 2014.
The fund achieved a 3.3% annual return for fiscal year 2013, up from 0.74% in the previous year.