Hamaguchi

There was a controversial scoring flurry late in Hamaguchi's semifinal loss that produced the winning two points for Wang.

USATODAY.com - McMann settles for silver medal 2004

"You really need time to build up the private-equity portfolio," said Mr. Hamaguchi, saying it was an area he expected would grow.

Japan Pension Fund Seeks Risk Mariko Sanchanta 2011

Mr. Hamaguchi criticized the pace of merger-and-acquisition activity and industry consolidation in Japan.

Japan Pension Fund Seeks Risk Mariko Sanchanta 2011

"I understand why the decision was delayed until now," Mr. Hamaguchi said, "but by global standards it's too late."

Japan Pension Fund Seeks Risk Mariko Sanchanta 2011

"This doesn't mean we are relaxing requirements for performance," Mr. Hamaguchi added.

Japan Pension Fund Seeks Risk Mariko Sanchanta 2011

Mr. Hamaguchi said that private-equity investments now comprise less than 1% of its entire portfolio, and hedge-fund investments 4%.

Japan Pension Fund Seeks Risk Mariko Sanchanta 2011

A low-return environment like Japan requires a higher-risk approach, said Daisuke Hamaguchi , the PFA's investment chief, in an interview with The Wall Street Journal.

Japan Pension Fund Seeks Risk Mariko Sanchanta 2011

The PFA has 25% of its assets in foreign equities—including 2.5% in emerging markets—15% in domestic equities and the rest in domestic and foreign bonds, Mr. Hamaguchi said.

Japan Pension Fund Seeks Risk Mariko Sanchanta 2011

"We need to lessen our dependence on beta return," said Mr. Hamaguchi.

Japan Pension Fund Seeks Risk Mariko Sanchanta 2011

Mr. Hamaguchi hit back, saying the return-on-equity floors were "superficial targets" modeled after an "Anglo-Saxon or American style of management."

Japan Pension Fund Seeks Risk Mariko Sanchanta 2011