Manager Registration System（Equities and Bonds）
GPIF has introduced "Asset Manager Registration System" to collect information of various investment strategies and to have more flexibility on Manager Selection and to have access to new investment idea and expertise of Asset Managers.
If Asset Managers don't meet GPIF's Entry qualification, they can provide information.
- 1. Asset Class/ Investment style.
- 2. Qualification of Asset Managers for Application.
(1) Asset Managers which have registration of Investment Management Business under "Financial Instrument and Exchange Act (Act No. 25 of 1948)" and which could conduct Investment Management Business.
If investment decision is effectively made by other organization, that subcontracting institution should obtain permission from supervisory authority of the country where their investment teams are located, or that subcontracting institution should do registration/ notification based on the laws and regulations of the country.
(2) Current Asset Under Management (AUM) of the company group (*1) from domestic and foreign pension funds should be 100 billion Japanese Yen or more (by e.g. Discretionary Investment Contract, individually operated designated trust agreement). If total AUM from pension funds is less than 100 billion Japanese Yen, total AUM including assets from other institutional investors e.g. financial institutions, foundations should be 100 billion Japanese Yen or more.
The company group (*2) which subcontracting institution belongs to needs to meet the same qualification regarding AUM. In this case, the Asset Manager which outsources investment management to subcontracting institution doesn't need to meet this qualification.
(*1) The company group including applying Asset Manager consisting of a parent company, subsidiaries and group companies submit consolidated balance sheets based on the Principle of Consolidated Balance Sheet.
(*2) The company group including applying subcontracting institution consisting of a parent company, subsidiaries and group companies submit consolidated balance sheets based on Account Standards of the country where investment teams are located.
(3) In principle, the period of composite performance data which is the same investment strategy as that of the applying fund should be 5 years or more, and also current AUM of the composite should be 30 billion Japanese Yen or more.
(*1) In the case where the time period of composite performance data is less than 5 years, if there is a reasonable reason e.g. Quants investment, 5 years performance data including simulation data is allowed to apply to our Application. And also even though AUM of the investment strategy is less than 30 billion Japanese Yen, it is also possible to apply our Application.
(4) If investment decision is effectively made by other organization, the investment decision should be made in that subcontracting institution.
(5) None of companies in the company group is involved in significantly inappropriate behavior regarding investment management business in the past 3 years. If investment decision is made by other organizations/ subcontracting institution, same rule is applied to the company group of subcontracting institution as well.
- 3. Evaluation Standard for selection
Information regarding Evaluation Standard, please refer to GPIF's Operation Policy.(under preparation)
- 4. Method of application (Entry)/ providing information
Application (Entry) is available at any time (Please see (1) above).
In the case where Asset Manager doesn't meet GPIF's qualification, such Asset Manager can provide us with information, e.g. performance data. (Please see (2) above）.
(1) Application of Entry (Asset Managers which meet GPIF's qualification)
For Application of Entry, please download "Manager Registration Application Form" shown below, and fill in necessary information. Please send the Manager Entry Application Form to the e-mail address for Entry. On the e-mail, please specify "Providing information/company name" as a title. In addition, please put password on the attached file. For Application of Entry, after GPIF confirm that the entry meets our qualification and there is no insufficient data, GPIF would send the e-mail to the e-mail address of Asset Manager that registration is completed. Asset Manager could confirm that registration is completed by receiving this e-mail from the GPIF.
(2) Application of Providing Information (Asset Manager which doesn't meet GPIF's Entry qualification.)
Asset Manager which will provide information e.g. performance data to GPIF, please download "Providing Information Application Form" and fill in necessary information. Please send the application form to the e-mail address for providing information. On the e-mail, please specify "Providing Information/ company name" as a title. In addition, please put password on the attached file. When the Asset Manager meets GPIF's qualification, the Asset Manager can apply for Entry.
- 5. Update and Cancelation of the registered information
(1) After the process of 4(1) and (2), investment performance needs to be updated on a monthly basis in principle. Please update the information based on the manual each time if there is any changes in other registered information. If there is any amendment with the content of "Manager Entry Application Form" or "Providing Information Application Form", please report that information to the e-mail address as above.
(2) Regarding (1) above, if the update of registered information by Asset Manager is not updated over 3months and if GPIF cannot contact with the Asset Manager, GPIF might cancel the application.
- 6. Interview
GPIF will select Asset Managers among registered funds for interview. To have meeting with Asset Managers, GPIF might ask Asset Managers for additional information for interview.