Government Pension Investment Fund appoints domestic manager for real estate mandate

The $1.2 trillion Government Pension Investment Fund has appointed Mitsubishi UFJ Trust and Banking Corp., part of the Mitsubishi UFJ Financial Group, to oversee its real estate investment strategy in Japan.

Mitsubishi UFJ will establish a fund of funds for GPIF. It will invest in core properties, blue-chip buildings that generate low but stable rental yields.