Japanese equities save the day for GPIF as fund shifts to bonds in Q2
Recording the worst quarterly investment return since April last year, the world’s largest pension fund was a net seller of equities in the second quarter.
Japan’s Government Pension Investment Fund (GPIF) recorded an investment return of just 0.98% in the second quarter ended September - the worst since last April - in quarterly results that would have been even worse if not for the comeback of Japanese equities.
With 25% of its assets, or 49.8 trillion yen, tied up in domestic stock market, Japanese equities were GPIF’s best performers in the second quarter, contributing 5.35% of its gains, according to its quarterly report releas…
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