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Request for Asset Manager Applications
(Non-Japanese Equities)

  1. Asset Class/ Investment Style and Benchmark

    （1）Asset Class / Investment Style
    　Active Investment of Non-Japanese Equities
    　Passive Investment of Non-Japanese Equities

    （2）Benchmark
    　①Active Investment
    　Benchmark in accordance with investment products proposal (in JPY).
    　The major active investment benchmarks adopted by GPIF are as follows:

    • MSCI‐ACWI (excl. Japan, incl. dividends in JPY, after considering dividend taxation factors in accordance with the Government Pension Investment Fund Act )
    • MSCI‐KOKUSAI (incl. dividends in JPY, after considering dividend taxation factors in accordance with the Government Pension Investment Fund Act)
    • MSCI-EMERGING MARKETS (incl. dividends in JPY, after tax)

    　②Passive Investment
    　The benchmark for passive investment will be assigned by GPIF.
    　The major passive investment benchmark adopted by GPIF is as follows:

    • MSCI‐ACWI (excl. Japan and China A-Shares, in JPY terms, incl. dividends, after considering dividend taxation factors in accordance with the Government Pension Investment Fund Act) and Other Regional Indexes
  2. Application Process
    Please visit here for details on the registration process.
  3. Application Deadline
    GPIF does not have a deadline for accepting applications, so please apply at any time. We will review your application as needed.
  4. Notes

    （1）When selecting passive investment managers, GPIF will evaluate the manager's overall business model, including investment process, stewardship policy, organization, and fee structure.

    （2）GPIF requests passive investment managers to add value in excess of the benchmark within a certain range of tracking error.

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