From the Nikkei this morning in Japan:
- Japanese Health Minister Yasuhisa Shiozaki is responsible for the Government Pension Investment Fund (GPIF)
- Today he will meet with an advisory panel (the Social Security Council’s pension subcommittee) to request reorganization of the fund’s decision making
- The GPIF is headed by Takahiro Mitani, a former Bank of Japan official; currently he single-handedly makes decisions ranging from portfolio allocation targets to which institutions manage the fund’s assets
- Shiozaki wants to change the GPIF’s status so that a board of directors can be set up to create a multi-person decision-making process to give the fund more autonomy from the welfare ministry and other government agencies.
“To give the fund more autonomy from the welfare ministry and other government agencies” …. that’s what he says anyway.