(Bloomberg) -- Japan’s public pension fund moved closer to completing a long-awaited governance revamp as the health ministry released a plan to install a mostly independent management committee to oversee its investments.
The $1.1 trillion Government Pension Investment Fund will establish a 10-person committee consisting of nine outsiders and GPIF’s president, the ministry said in a proposal Friday in Tokyo.
The new body will be responsible for decision-making and supervising how the pension fund invests its assets, the health ministry said.
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