Japan: $70 Billion Up For Grabs?

Foreign firms will soon get a chunk of Japanese pension funds

Japan's national wealth owes a lot more to manufacturing excellence and export might than to skills at managing money. Small wonder, then, that elite Japanese universities turn out few world-class investment advisers. But giving money management little respect is costing Japan dearly. Thanks to ultraconservative investment rules, sliding property prices, and a stock market that is still down by half from its 1989 peak, Japan's private and public pension funds--with $2 trillion worth of assets--may not have enough cash on hand to support employees when they retire.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.