GPIF Nears End of Asset Shift as Fund Posts 1.9% Quarterly Gain
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The world’s biggest pension fund has neared the end of its unprecedented asset shift.
Japan’s $1.2 trillion Government Pension Investment Fund has shifted its allocations for stocks and bonds at home and abroad to within three percentage points of its targets, investment results for the April-June quarter released Thursday show. The fund returned 1.9 percent in the period as local equities gained and the yen fell. It lost 50 billion yen ($416 million) on its domestic bond holdings.