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Japan GPIF’s Conservative Bond Rotation

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japanJapan’s Government Pension Investment Fund (GPIF), the largest pension plan in the world, plans to increase investment in domestic equities and international assets. The GPIF has ¥111.9 trillion in assets. Cuts will be made in domestic bond allocations which could go down to 60% from 67%. Since the GPIF is a major holder of Japanese government bonds (JGB), it could stimulate market volatility in the Japanese debt market.

The allocation of domestic equities would increase from 11% to 12%. International equities will rise from 9% to 12%.

The financial conservatism of the GPIF is being challenged as Japan’s core demographic ages. In addition, other public pension systems from around the world like CalPERS and OMERS have taken a different approach to investing by allocating to alternatives. This yield approach strikes a stark difference versus liability-driven investing (LDI).

ADIA Seeks to Sell KIC Headquarters

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The Abu Dhabi Investment Authority (ADIA) is seeking to sell the building that houses the headquarters of the Korea Investment Corporation (KIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BMO and OTPP Test Blockchain Canadian Dollar Debt Deal

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The Bank of Montreal (BMO) and the Ontario Teachers’ Pension Plan (OTPP) participated in a landmark blockchain Canadian-dollar debt transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Just Group Acquires Corinthian Pension Consulting

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Just Group plc acquired a 75% ownership stake in the holding company of Corinthian Pension Consulting Limited (Corinthian Pension Consulting). Operating in the institutional world for over 12 years, Corinthian Pension Consulting provides advisory services to defined-benefit pension scheme trustees and scheme sponsors undertaking bulk scheme exercises. The remaining 25% will be retained by current shareholders of Corinthian Pension Consulting. Robert MacGregor will continue to lead Corinthian Pension Consulting, as its Chief Executive Officer. Furthermore, Corinthian Benefits Consulting Limited and Corinthian Affinity Solutions Limited will continue to operate as before, becoming part of a newly formed holding company, Corinthian Group Holdings Limited.

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