Japan to appoint former Norinchukin exec as new pension fund chief

The annual report of the Government Pension Investment Fund (GPIF) is seen during a news conference at the fund's headquarters in Tokyo, Japan, on Thursday, Jan. 11, 2018. Photographer: Akio Kon/Bloomberg via Getty Images

Japan will appoint a former Norinchukin Bank executive as the new head of its $1.5 trillion Government Pension Investment Fund (GPIF), a source with direct knowledge of the matter said on Monday.

The appointment of Masataka Miyazono will be announced later this week, said the source, who declined to be identified because the information has not been made public. The GPIF is the world’s largest pension fund and is closely watched by global financial markets because of its mammoth size.

Miyazono will replace current president Norihiro Takahashi, whose term is due to expire at the end of March. Miyazono is the head of the Pension Fund Association and previously served as deputy president at agricultural lender Norinchukin Bank.

Norinchukin, which pools the assets of Japanese farmers, is also a big player in global markets.

The GPIF is due to announce a change in its asset allocation later this month. In its current portfolio, the allocation targets are 25% each for domestic and foreign stocks, 35% for domestic bonds, and 15% for foreign bonds.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.