"[It is] interesting that so much power is concentrated in such few hands at the world's largest pension fund [namely, Japan's GPIF,] but they seem to be doing just fine. Investing in [Japan Government Bonds (JGBs)] shielded them from serious market downturns. But now there are increasing calls to start looking outside to realize the target return they require, and investing in JGBs won't cut it. Keep an eye on this giant pension as it may slowly morph into another global pension powerhouse that invests in traditional and alternative assets."

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