TOKYO : Japan's Government Pension Investment Fund posted a second-quarter investment return of 1.88 trillion yen , fuelled by gains from domestic stocks, it said on Friday.
The world's largest pension fund, GPIF managed 194.1 trillion yen of assets by the end of September, with a return on overall assets of 0.98per cent over the three-month period, it said in a statement. For the second quarter, Japan's Nikkei stock average rose 2.3per cent, driven by progress in vaccinations to control the coronavirus pandemic.
The fund's Japanese stock portfolio achieved a return of 5.35per cent, while the foreign stock portfolio had a loss of 0.77per cent.By the end of September, the fund had 26.79per cent of its portfolio in Japanese bonds, 24.17per cent in foreign bonds, 25.03per cent in domestic equities and 24.01per 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.