Establishment of GPIF Finance Awards

January 6th, 2017

Establishment of GPIF Finance Awards

As investments are being sophisticated and financial products diversified, not only practical improvements but also theoretical ones are required to safely and efficiently manage pension reserve fund and it is indispensable to create an environment that will continue to enhance the academic studies.

As part of creating such an environment, GPIF established "GPIF Finance Awards" under the auspices of the Ministry of Health, Labor and Welfare, Ministry of Education, Culture, Sports, Science and Technology and the Financial Services Agency.

The "GPIF Finance Awards" aims to award young researchers who made excellent study in the field of pension reserve fund management upon the decision made by the selection committee of prominent foreign and domestic academic advisors including the Nobel laureate and it will disseminate their achievement and importance for the society with activities of excellent researchers encouraged.

We would like young researchers and university stakeholders to understand the purpose of "GPIF Finance Awards" and submit application.


Congratulations on the creation of the GPIF Awards in Finance, to promote academic financial research in Japanese universities. A well-functioning financial system is essential for economic growth and stability. And improving the financial system will improve both. Over the past half century, discoveries in academic research in finance have been a major force behind the remarkable advances in financial systems globally. A prime early instance of the Japanese contribution came from Professor Kiyoshi Ito, Kyoto University. His research provided the mathematical technique which is the foundation underlying some of the most important models of modern finance--an influence that continues today. The new GPIF Awards in Finance will draw widespread attention and provide concrete incentives to encourage young, talented Japanese researchers to focus on finance and investments. I am honored and excited to serve on the Selection Committee of this important new prize.

Robert C. Merton
January 4, 2017