Asia Risk 15: Noboru Terada, GPIF

After more than 20 years at the helm of Japan’s largest corporate and state pension funds, Noboru Terada has gained a reputation as a vocal advocate of alpha-centric investment approaches as well as being a vociferous critic of Japanese public pension fund policy. Although Terada took advantage of Japanese financial de-regulation during his time as executive investment officer at Japan’s Government Pension Investment Fund (GPIF) from 2001–2006 to modernise the institution that manages $1.35