On Friday, the Japanese government announced plans to shift the massive $1.2 trillion public pension fund to more aggressive management.
Officials took the first concrete steps today by appointing 7 people to the 11-member investment board. Three of the appointees were on a panel that last year recommended investing in riskier assets. Traditionally, the fund only had its money in stocks and bonds.
It’s a big of a surprise that the Nikkei closed flat today after the moves because a more aggressive pension could helps spark risk assets.
