Principal Global Investors is one of seven global managers to win mandates with Japan's GPIF.
The world's largest public pension fund, the Japanese Government Pension Investment Fund (GPIF), has picked seven new managers to manage foreign stocks.
The new line-up includes a Principal Global Investors (PGI) global equity mandate managed out of the United States.
"Even though this mandate is managed out of the US, it is a win for PGI Australia as it shows that some of the world's largest clients are putting their money to work with PGI," PGI Australia chief executive Grant Forster said.
Forster was unable to confirm the total worth of the mandate.
He said the new mandate also vindicated the January decision by Tyndall/Suncorp Investment Management to award a $160 million global equity growth mandate to PGI Australia.
"We have the same product available to the institutional market here. The Suncorp win has been vindicated by others following suit," he said.
PGI is a diversified asset management company with global investment expertise in equities, fixed income and real estate
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