Foreign fund houses spend significantly more on outsourcing expenses and salaries than local asset managers in Japan, finds a new study, among other conclusions.
Japanese institutional investors will increasingly award mandates to foreign managers and advisers, according to Cerulli Associates and the Nomura Research Institute.
A government taskforce has called for GPIF and other public funds to fundamentally restructure to seek higher returns, diversify and revamp governance.
This year, Japan’s investment trusts will pay around ¥4 trillion in dividends, forcing many to slash payouts or suffer negative cashflows, says Nomura Research Institute.