The 21 trillion yen Pension Fund Association for Local Government Officials has added private debt and private equity categories to its manager pre-qualification register. Known as Chikyoren, it invests a large part of the reserves of 14 of mutual aid associations which cover a variety of public servants from teachers to the police.
The Fund is committed to following the same asset allocation as the Government Pension Investment Fund. This should, in turn, enable it to convert some of its “duty investments” in the debt of the Fiscal Investment & Loan Programme (FILP) and Japan Government Bonds (JGBs) into more productive holdings,
Real estate already features to its roster of alternatives managers but its actual property investments have been more overseas than at home.
To review the Fund’s commitment enter “Chickyoren’ in the search box at the top right.
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