Japan’s Pension Fund Association has increased its investments in hedge funds sixfold in the last year, according to Bloomberg.
In an effort to diversity its holdings, the fund has invested 300 billion yen ($2.8 billion) into hedge funds.
“We’ve been aggressively increasing investments mainly in about top 50 hedge funds in the U.S.,” Tomomi Yano, executive managing director, told Bloomberg. “The returns have been decent.”