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The Teachers’ Mutual Aid Cooperative Society will invest as much as ¥6 billion in real estate investment trusts mainly abroad this fiscal year after REITs at home became expensive.

The pension fund, with about ¥600 billion in assets, invested ¥5 billion in Japanese REITs in the fiscal year that ended March 31 and doesn’t plan to increase allocations for now after they surged in value, said Toru Higuchi, a general manager in the society’s asset management department.

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