Japan s GPIF Faces Moment of Truth on Chinese Debt msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
by Tyler Durden
Wednesday, Mar 03, 2021 - 08:01 AM
Once again market sentiment has reversed violently - or rather the opposite - overnight, with yesterday s late day spoo slump inspired by the short squeeze in Rocket Mortgage - which forced hedge funds to liquidate their best positions - being faded and on Wednesday Emini futures jumped 0.6%, global shares gained with European indexes echoed positive moves in Asia, as a recent retreat in Treasury yields fuelled demand for riskier assets. even though the 10Y has rebounded 5bps to 1.45% overnight as focus again turned back to the stimulus-fueled recovery from the pandemic. The MSCI world equity index gained 0.4% while oil halted its longest losing streak since December.
U.S. stocks dropped to the lowest levels in more than a week and Treasury yields edged higher amid growing concern rising borrowing costs could sap a rally that’s driven equity values to historic highs.
Japan’s Chikyoren hires 5 managers, including one focused on ESG
Print
Japan s Pension Fund Association for Local Government Officials, known as Chikyoren, hired one overseas real estate manager, another to oversee passive investments benchmarked to ESG-focused indexes and three managers for active domestic equity allocations.
A posting to Chikyoren s website on Friday said the ¥24.3 trillion ($234.2 billion) Tokyo-based pension fund hired hired Franklin Resources affiliate
Clarion Partners, New York, to manage an allocation to overseas real estate.
Separately, the pension giant hired
Sumitomo Mitsui Trust Bank to manage two passive ESG allocations, one benchmarked to the MSCI Japan ESG Select Leaders Index and the other benchmarked to the S&P/JPX Carbon Efficient Index.