Mitani's exit means sayonara to old fund management style
New era for Japan's Government Pension Investment Fund, with major overhaul under Abenomics
Tokyo
WHEN Takahiro Mitani's term as head of the world's largest retirement fund ends in March, so too will the old era of Japanese pension management.
The former Bank of Japan (BOJ) official saw his power ebb during a five-year reign at the US$1.1 trillion Government Pension Investment Fund (GPIF), as Prime Minister Shinzo Abe took office with the goal of overcoming deflation. Mr Mitani, 65, will be the last person to wield sole control of a bond-heavy GPIF after the biggest overhaul in the fund's history.
Mr Abe, 60, has reshaped the government by putting his own people in positions of power at institutions across the nation.
Mr Mitani, who watched Masaaki Shirakawa get replaced at the BOJ and proponents of Abenomics surround him at the fund, acquiesced to the new order after months of resistance. The GPIF he leaves has less reliance o…
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