Pension fund managers might have been too trusting and
failed to properly evaluate alternative investment strategies
that AIJ Investment Advisors pursued on their behalf.
This was the assessment of some executives whose views
AsiaHedge solicited from after reports emerged that
Japan’s regulator, the Financial Service Authority
(FSA), has found that the Japanese alternative investment
manager is unable to account for nearly $2.5 billion of
corporate pension funds that it was entrusted to manage.
Frank Packard, president of Triple A Partners Japan and an
FSA-regulated investment advisor, says that looking at the
situation from the outside, it seems that these pension