GPIF considers hedge strategy for investments

Japanese Government Pension Investment Fund (GPIF), the world's largest pension fund with $457bn, is to look into hedge funds when reviewing its policy asset allocation in autumn, according to Noboru Terada, the fund's Tokyo-based executive investment officer. "We are looking to start hedge fund investments with limited size and to apply the hedge fund strategy to co-ordinate with the existing investment policy," Terada said. Though its executives are looking into the asset class, the GPIF will become an independent agency in April 2006, and its hedge fund investment policy is likely to b...