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Public Pension Fund Management: Best Practice and International Experience

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  • Andrew Rozanov

Abstract

type="main"> As Japan's policymakers strive to reform the Government Pension Investment Fund, this paper reviews the core principles and best practices of public pension fund management, with a particular focus on governance and investment philosophy, as distilled from the experience of some of the largest and most advanced institutional investors. It proceeds to compare and contrast three distinct models of institutional fund management: the Norway model, the Yale/Australia Future Fund model, and the Canada model. The paper concludes by making some preliminary recommendations for the Government Pension Investment Fund reform.

Suggested Citation

  • Andrew Rozanov, 2015. "Public Pension Fund Management: Best Practice and International Experience," Asian Economic Policy Review, Japan Center for Economic Research, vol. 10(2), pages 275-295, July.
    • Handle: RePEc:bla:asiapr:v:10:y:2015:i:2:p:275-295
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    File URL: http://hdl.handle.net/10.1111/aepr.12106
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    References listed on IDEAS

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    1. Gordon L. Clark & Adam D. Dixon & Ashby H. B. Monk, 2013. "Sovereign Wealth Funds: Legitimacy, Governance, and Global Power," Economics Books, Princeton University Press, edition 1, volume 1, number 10003, December.
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    Cited by:

    1. Leticia Martins Medeiros & Clea Beatriz Macagnan & Rosane Maria Seibert, 2025. "Decoding Pension Funds: Sustainability Indicators for Annual Report Analysis," JRFM, MDPI, vol. 18(4), pages 1-19, March.
    2. Takatoshi Ito & Kazumasa Iwata & Colin McKenzie & Shujiro Urata, 2015. "Social Security in Ageing Asia: Editors' Overview," Asian Economic Policy Review, Japan Center for Economic Research, vol. 10(2), pages 179-198, July.
    3. Peter R. Orszag, 2015. "Comment on “Public Pension Fund Management: Best Practice and International Experience”," Asian Economic Policy Review, Japan Center for Economic Research, vol. 10(2), pages 296-298, July.

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