| TOKYO, April 18
TOKYO, April 18 Japanese Prime Minister Shinzo
Abe's government plans to shake up the world's biggest pension
fund, replacing several key advisers in a sign that the premier
wants public funds to invest more aggressively, sources with
knowledge of the matter said.
At least three of the 10 members of the $1.26 trillion
Government Pension Investment Fund's Investment Committee -
including two considered cautious about Abe's call to shift from
bonds to riskier investments like stocks - will soon depart from
the panel, according to the sources.
Seki Obata, author of a book called, "Reflation is
Dangerous"; Takeshige Komoda, who represents labour unions that
want to protect their pensions; and long-serving member Masaharu
Usuki will not have their terms on the committee renewed when
they expire, the sources told Reuters.
Abe has been pressing GPIF to put relatively less money into
low-yielding bonds and seek higher returns from riskier
investments, in line with his policy of reviving the economy and
breaking Japan's risk-averse, deflationary mindset.
Government officials and committee members declined to
comment on the record about the closely guarded GPIF personnel
decisions. Chief Cabinet Secretary Yoshihide Suga said on Friday
that the matter is up to Health Minister Norihisa Tamura, who is
expected to announce the reshuffle as soon as next week.
(Writing by William Mallard; Editing by Edmund Klamann)