Japan's GPIF posts $47 billion return in Q3 on solid overseas stocks

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TOKYO :Japan's Government Pension Investment Fund (GPIF) said on Friday it posted a third-quarter investment return of 5.437 trillion yen ($47.29 billion) on gains from overseas stocks.GPIF, the world's largest pension fund, managed 199.3 trillion yen of assets as of the end of December and its return on over

TOKYO :Japan's Government Pension Investment Fund said on Friday it posted a third-quarter investment return of 5.437 trillion yen on gains from overseas stocks.

GPIF, the world's largest pension fund, managed 199.3 trillion yen of assets as of the end of December and its return on overall assets was 2.81per cent over the three month period, it said in a statement. For the third quarter, the Dow Jones industrial average rose 7per cent, while Japan's Nikkei stock average dipped 2per cent.

The fund's foreign stock portfolio achieved a return of 10.54per cent, while the Japanese stock portfolio had a loss of 1.62per cent.By the end of September, the fund had 24.95per cent of its portfolio in Japanese bonds, 24.46per cent in foreign bonds, 24.92per cent in domestic equities and 25.68per cent in foreign equities.

The pension fund has been shifting its portfolio away from unprofitable domestic bonds toward higher-yielding foreign assets, as domestic interest rates are ultra-low.

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how much of that is due to devaluation of JPY during that period?

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