Hiro Mizuno

17 statements across 1 episodes · 5 bullish · 6 bearish · 1 people on the record · first statement Jul 9, 2020 by Hiro Mizuno · said 1 times in 1 episodes since 2020 · across every show →

On the record as a speaker too: Hiro Mizuno's record, appearances and statements → this page counts the times other people say the name.

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Everything said about Hiro Mizuno, oldest first

Jul 9, 2020 negative
Insight
Mizuno: Asset owners focus on entitlements but ignore owner responsibilities
“Because the asset owner, we always talk about our entitlement as the owner. But on the other hand, we usually very, very lack time to talk about our responsibility as the owner.”
Hiro Mizuno Jul 9, 2020 ▶ 54:30 Sustainable Investing 10: Hiro Mizuno – Changing the Game (Capital Allocators, EP.148)
Jul 9, 2020
Disclosure
Mizuno: GPIF weighted stewardship at 30% in passive manager evaluations
“So we changed our evaluation scoring model. To allocate 30% of the total score to the stewardship activities in the evaluation of passive managers.”
Hiro Mizuno Jul 9, 2020 ▶ 33:25 Sustainable Investing 10: Hiro Mizuno – Changing the Game (Capital Allocators, EP.148)
Jul 9, 2020 bearish
Assertion Supported
Mizuno: GPIF portfolio analysis revealed a 3-degree global warming trajectory
“Unfortunately, last year, we used the T-Safety framework and came up with a conclusion that our portfolio on the path of the three degree instead of two. And that means the world is on that trajectory.”
Hiro Mizuno Jul 9, 2020 ▶ 52:00 Sustainable Investing 10: Hiro Mizuno – Changing the Game (Capital Allocators, EP.148)
Jul 9, 2020 neutral
Insight
Mizuno: Mega Asset Owners Cannot Beat the Market Universe, Only Improve It
“So we basically just said we are owner of the unique capital market universe. So we are universal owner. So our job is not to be the universe because we cannot. So let's see. What we can do to make that universe better.”
Hiro Mizuno Jul 9, 2020 ▶ 29:44 Sustainable Investing 10: Hiro Mizuno – Changing the Game (Capital Allocators, EP.148)
Jul 9, 2020 negative
Insight
Mizuno: Divesting carbon-heavy industries does not reduce global carbon emissions
“We are passing ownership of those problematic business to the people who don't care about it. We don't want it to reduce the carbon footprint by divesting carbon heavy industry because it doesn't reduce the carbon footprint of the world anyway.”
Hiro Mizuno Jul 9, 2020 ▶ 51:04 Sustainable Investing 10: Hiro Mizuno – Changing the Game (Capital Allocators, EP.148)
Jul 9, 2020
Insight
Mizuno: Large Asset Owners Cannot Protect Portfolios Within Unsustainable Global Markets
“If I look at the long-term performance of all the big asset owners, I mean, big or small, their performance pretty much dictated by what happened to the global economy. Or the global stock market. I concluded that we probably think the way to change that or ma…”
Hiro Mizuno Jul 9, 2020 ▶ 9:37 Sustainable Investing 10: Hiro Mizuno – Changing the Game (Capital Allocators, EP.148)
Jul 9, 2020 positive
Disclosure
Mizuno: GPIF refocused on systemic market sustainability over manager selection
“What I decided to do is I tried to change people's mindset. We had been spending a lot of time and energy on something which actually makes marginal difference. Why don't we try to spend time to make the real difference, which is trying to contribute and do th…”
Hiro Mizuno Jul 9, 2020 ▶ 13:25 Sustainable Investing 10: Hiro Mizuno – Changing the Game (Capital Allocators, EP.148)
Jul 9, 2020 positive
Insight
Mizuno: Passive Investing Becomes Inefficient Without Active Investors Setting Prices
“Passive investment is effective or efficient because it take all the active managers or the active investors opinion into their pricing. So the basically they are free riding all the other active investors. I'm not only talking about active portfolio manager, …”
Hiro Mizuno Jul 9, 2020 ▶ 20:59 Sustainable Investing 10: Hiro Mizuno – Changing the Game (Capital Allocators, EP.148)
Jul 9, 2020 negative
Assertion Contradicted
Mizuno: CFA and MBA curriculums lack even one chapter on ESG
“Given now the ESG is one of the hottest topic in the industry, but there's not even a chapter in a CFA curriculum or MBA curriculum.”
Hiro Mizuno Jul 9, 2020 ▶ 55:38 Sustainable Investing 10: Hiro Mizuno – Changing the Game (Capital Allocators, EP.148)
Jul 9, 2020 neutral
Insight
Mizuno: Pension CIO decisions make marginal difference compared to board asset mix
“Well, the point is, most of the big asset owners, let's take public pension fund as an example, GPF, Culpers, Coasters, and all the big public pension funds, their most critical decision In terms of the financial performance of their portfolio performance is n…”
Hiro Mizuno Jul 9, 2020 ▶ 10:56 Sustainable Investing 10: Hiro Mizuno – Changing the Game (Capital Allocators, EP.148)
Jul 9, 2020 positive
Insight
Mizuno: Portfolio Sustainability Depends Sequentially on Market, Society, and Environment
“We just basically came up with the concept of, for our portfolio to become sustainable, We need to make sure the capital market to be sustainable, and for the capital market to be sustainable, we need to make sure society must be sustainable, and for the socie…”
Hiro Mizuno Jul 9, 2020 ▶ 30:26 Sustainable Investing 10: Hiro Mizuno – Changing the Game (Capital Allocators, EP.148)
Jul 9, 2020 positive
Disclosure
Mizuno: The Little Prince was the model for GPIF's stewardship framework
“When I came up with the concept of what's the right stewardship activities for universal ownership, the book I referred to was the Little Prince. Little Prince was the best role model for me to be a good steward.”
Hiro Mizuno Jul 9, 2020 ▶ 1:00:02 Sustainable Investing 10: Hiro Mizuno – Changing the Game (Capital Allocators, EP.148)
Jul 9, 2020 positive
Opinion
Mizuno: Personally Supports Home Country Bias for Public Pension Funds
“And I'm actually personally a supporter of the Home country bias, given those, like, different factors to consider.”
Hiro Mizuno Jul 9, 2020 ▶ 19:45 Sustainable Investing 10: Hiro Mizuno – Changing the Game (Capital Allocators, EP.148)
Jul 9, 2020 negative
Insight
Mizuno: Asset management is overly afraid to act without standardized metrics
“I always find that this industry, we are very afraid of doing something new without having a clear concept of a measurement and a standardized data set. But I always think that in real world, you need to start it. But when we started, we need to make sure that…”
Hiro Mizuno Jul 9, 2020 ▶ 39:14 Sustainable Investing 10: Hiro Mizuno – Changing the Game (Capital Allocators, EP.148)
Jul 9, 2020
Assertion Supported
Mizuno: Only two passive managers earned extra fees for stewardship at GPIF
“And by the time I left, there are only two passive managers who proposed their GPIF, their new business model with specific KPI, how to improve their stewardship activities, and they received extra layout fees from the GPIF.”
Hiro Mizuno Jul 9, 2020 ▶ 34:17 Sustainable Investing 10: Hiro Mizuno – Changing the Game (Capital Allocators, EP.148)
Jul 9, 2020 bearish
Prediction Not checkable as stated
Mizuno: Paris Agreement goals will probably fail without universal ESG finance adoption
“And if I fail to do that, or we fail to do that, probably we wouldn't achieve what the Paris Agreement or some of the sustainability goals that people are talking about.”
Hiro Mizuno Jul 9, 2020 ▶ 56:58 Sustainable Investing 10: Hiro Mizuno – Changing the Game (Capital Allocators, EP.148)
Jul 9, 2020
Insight
Mizuno: Passive managers only add value through stewardship, not index tracking
“And the index tracking, that's what people say that they add value, but I really believe that should be cost-free because we don't need a human to track the index anymore. Only the area I thought the passive manager can really add value and differentiate their…”
Hiro Mizuno Jul 9, 2020 ▶ 33:05 Sustainable Investing 10: Hiro Mizuno – Changing the Game (Capital Allocators, EP.148)
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