Government Pension Investment Fund

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Government Pension Investment Fund
Pension fund
Industry Financial services
Founded 2006
Headquarters 1-4-1 Kasumigaseki, Chiyoda-ku, Tokyo Japan
Key people
Norihiro Takahashi (CEO)
Increase¥15,621.9 billion (9M 2017)[1]
Total assets Increase¥162,672.3 billion (Q3 2017)[1]
Website [1]

Government Pension Investment Fund (年金積立金管理運用独立行政法人, Nenkin Tsumitate-kin Kanri Un'yō Dokuritsu-gyōsei-Hōjin), or GPIF, is an incorporated administrative agency (an independent administrative institution), established by the Japanese government. It is the largest pool of retirement savings in the world. Japan's GPIF is the largest public fund investor in Japan by assets and is a major proponent of the Stewardship Principles.[2]

The Government Pension Investment Fund (GPIF) has been established on the following investment principles:

  • The overarching goal should be achieve the investment returns required for the public pension system with minimal risks, solely for the benefit of pension recipients from a long-term perspective, thereby contributing to the stability of the system.
  • The primary investment strategy should be diversification by asset class, region, and timeframe. While acknowledging fluctuations of market prices in the short term, we shall achieve investment returns in a more stable and efficient manner by taking advantage of our long-term investment horizon, whilst at the same time we shall secure sufficient liquidity to pay pension benefits.
  • We formulate the policy asset mix, and manage and control risks at the levels of the overall asset portfolio, each asset class, and each asset manager. We employ both passive and active investments to benchmark returns (i.e. average market returns) set for each asset class, while seeking untapped profitable investment opportunities.
  • By fulfilling our responsibilities, we shall continue to maximise medium-to long-term equity investment returns for the benefit of pension recipients.

The GPIF has diversified investments with the following external asset management institutions:

  • United KingdomAberdeen Asset Management
  • GermanyAllianz
  • FranceAXA
  • United KingdomBaillie Gifford
  • United StatesBank of New York Mellon
  • United StatesBlackrock
  • United StatesCapital Group Companies
  • United StatesCitigroup
  • FranceCredit Agricole
  • United StatesDimensional Fund Advisors
  • United StatesFidelity
  • United StatesGoldman Sachs
  • NetherlandsING
  • United StatesInvesco
  • United StatesJanus Capital Group
  • United StatesJP Morgan
  • FranceLazard
  • JapanMitsubishi UFJ Financial Group
  • JapanMizuho Financial Group
  • United StatesMorgan Stanley
  • FranceNatixis
  • JapanNomura
  • United StatesNorthern Trust
  • United StatesPIMCO
  • United KingdomPrudential
  • United StatesPrudential Financial
  • JapanResona Holdings
  • United StatesRussell Investments
  • FranceSociete Generale
  • United StatesState Street
  • JapanSumitomo Mitsui Financial Group
  • CanadaSun Life
  • JapanTokio Marine
  • United StatesWellington Management
  • United StatesWells Fargo

Profile[edit]

Investment result[edit]

2012
Third-quarter rate of return (period rate): 4.83%
The amount of third quarterly earnings: 5,135,200 million yen
A third-quarter end operative asset sum: 111,929,600 million yen

See also[edit]

Notes[edit]

  1. ^ a b "Investment results for 3Q of fiscal 2017" (PDF). GPIF. GPIF.
  2. ^ "Chat with the Chief: Hiromichi Mizuno". Sovereign Wealth Fund Institute. Retrieved 21 May 2018.


External links[edit]