Reasons to get excited by changes at GPIF

International asset managers have good reason to be enthused by structural changes under way at Japan’s Government Pension Investment Fund (GPIF), which manages the world’s largest retirement savings pool. The $1.3 trillion fund announced an overhaul of its equity portfolio this month. It added three benchmark indices for passive investment to include the JPX-Nikkei 400, launched by the Japan Exchange in January and comprising firms selected for higher return-on-equity and profits…