Japan’s National Federation of Mutual Aid Associations for Municipal Personnel has hired two local and four US firms to manage an active global equity mandate of undisclosed value.
The pension fund, known locally as Shichousonren, announced the appointments on its website on October 31.
The Japanese firms are Asset Management One Co and Mitsubishi UFJ Trust and Banking, and the US firms are Fidelity Investments, J.P. Morgan Asset Management, Fisher Asset Management and Fidelity Institutional Asset Management.
The investment will be benchmarked against the MSCI All Country World Index ex-Japan.
Shichousonren manages pension assets for mutual aid associations across Japan. Founded in 1984, it has around 16.2 trillion yen (US$110 billion) of assets.
