Japanese pension fund dares active managers to prove their worth by outperforming benchmarks

Japanese pension fund dares active managers to prove their worth by outperforming benchmarks

Signage is displayed at the entrance to the Government Pension Investment Fund (GPIF) headquarters in Tokyo, Japan, on Friday, July 29, 2016. Photographer: Tomohiro Ohsumi/Bloomberg

Active investment managers argue that increased market volatility provides an environment in which their stock-picking skills can shine. The world’s largest pension fund wants them to put their money — or rather their fees — where their collective mouths are.

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