Japan Post, a financial institution holding the most assets worldwide has selected Goldman Sachs, Nomura Holdings Inc., and Daiwa Securities Group to run its three new funds, starting in October of this year, Reuters reports.
The three firms were chosen out of 23 finalists to manage a total of $156.4 billion.
Nomura will run a global balanced fund that will offer three investment options: stocks, bonds, and REITs.
Daiwa Asset Management will manage a fund that follows the Nikkei 225 share average - a Japanese stock average.
Goldman Sachs will manage a fund that is aimed at outperforming the TOPIX share index, which is Tokyo's benchmark.