Tokyo to set up wealth fund, says report

The Japanese authorities may be hatching plans to start a sovereign wealth fund.

The Times, a newspaper, reported on Monday 3 March that senior officials had said that the authorities were carrying out a recruitment drive for the fund, described as "an activist for taxpayers and shareholders".

The fund, which would have a $19.9 billion share portfolio, would target mainly domestic investments. It would take Norway's Government Pension Fund as its model.

With $973 billion-worth of foreign excha