Pension fund trims investments

New strategy: People walking along a popular sightseeing spot in Tokyo. Japan’s policymakers are encouraging individuals to shift from savings to riskier investments to help support retirees in one of the world’s fastest-ageing populations. — Reuters

TOKYO: One of Japan’s biggest pension funds has slashed its holdings of actively invested funds while its top management pledged to tighten scrutiny of asset managers’ performance.

Tokyo-based Federation of National Public Service Personnel Mutual Aid Associations, which manages about 10 trillion yen (US$68bil) in assets, exited 10 out of the 27 active funds it invested in, in the year ended March.