Japan’s University Endowment Fund to spur other institutions
Government is hoping to foster U.S.-style funds at country s universities
Bloomberg
The giant ¥10 trillion ($91.1 billion) University Endowment Fund that Japan plans to launch in March to reverse a downtrend in the country s output of cutting-edge academic research will also promote the emergence of U.S.-style endowment funds as a key component of Japanese university finances, government officials say.
The ambition is more than just managing the ¥10 trillion the government has pledged for the fund, said Sho Ito, the Tokyo-based bureaucrat in charge of the program as deputy director of the Cabinet Office s Bureau of Science, Technology and Innovation, in a recent interview. We want to change Japanese universities and we want to change (Japan s) investment culture as well, he said.
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