Manager Registration System
（Equities and Bonds）
GPIF has introduced the "Asset Manager Registration System" to collect information on various investment strategies, introduce more flexibility into manager selection and access new investment ideas and expertise.
We have changed the procedures for the Asset Manager Registration System. Former registrations were valid until the end of march 2021 ; applicants that wish to continue registration from april 2022 onward are required to re-register through the new procedure.
1. Asset Class/ Investment style.
- Active Investment and Passive Investment of Japanese Bonds
- Active Investment and Passive Investment of Japanese Equities
- Active Investment and Passive Investment of Non-Japanese Bonds
- Active Investment and Passive Investment of Non-Japanese Equities
- Active Investment and Passive Investment of Public REITs
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.
(*) 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.(Subcontract from subcontracting institution to other organization is not permitted.)
(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.Selection Criteria
Please refer to GPIF's Operation Policy
V.Selection and Evaluation of External Asset Managers
4.Comprehensive Evaluation Methods
4. Application Method (Entry)
Application (Entry) is available at any time.
(1) Application for Entry (Asset Managers Meeting GPIF's Qualifications)
To apply for entry, please download the "Manager Entry Application Form (Meeting Qualifications)" shown below, fill in the required information, and send to the e-mail address below with the title "Application_[company name]".
The application process is complete when GPIF sends a "registration completed" notification to the asset manager's contact e-mail address.
Asset managers may still apply even if they do not fulfill GPIF's qualifications.
(2) Application for Registration (Asset Managers Not Meeting GPIF's Qualifications)
To apply for registration, please download the "Registration Application Form (Not Meeting Qualifications)," fill in the required information, and send to the e-mail address below with the title "[Company name]"
The asset manager can apply for Entry upon meeting GPIF's qualifications.
5. Update and Cancelation of Registered Information
Please report any amendments to the form provided to the registration e-mail address. The registered e-mail address must be updated if the contact person changes, and thus we ask that applicants consider using the contact's department group address. In addition, we may send an e-mail confirming your intention to continue the entry to the registered e-mail address. Please reply if/when you receive it. GPIF may cancel registration if we do not receive a reply.
6. Interview
GPIF will select asset managers among registered funds for interview. Applicants may be asked to provide additional information if selected for an interview.