Japan fund weighs aggressive governance

The influential PFA may follow CalPERS'' lead and make corporate governance an investment policy.

Japan's $52 billion Pension Fund Association PFA is studying how the California Public Employee Retirement System CalPERS has revolutionized institutional investors' approach toward corporate governance, and may design similar strategies. Given the highly influential role the PFA plays among Japan's corporate pension funds, any such moves would likely have a big impact on investment strategy across the industry.

The communications link between the two institutions is Jetro, the Japan External Trade Relations Office, a government body charged with managing Japan's bilateral trade. Former Ministry of Health and Welfare official Hiroyuki Mitsuishi has recently been appointed to Jetro's pension and welfare department in New York, a role that has existed for a decade,...

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