Japan Teachers Fund to Invest Abroad as J-REITs Become Expensive

Japan’s Teachers’ Mutual Aid Co-operative Society will invest as much as 6 billion yen ($60 million) in real estate investment trusts mainly abroad this fiscal year after REITs at home became expensive.

The pension fund with about 600 billion yen in assets invested 5 billion yen in Japanese REITs in the fiscal year ended March 31 and doesn’t plan to increase allocations for now after they surged in value, said Toru Higuchi, a general manager in the asset management department in Tokyo.