Japan Pension Boosting Asset Sales to $48 Billion
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Japan’s public pension fund, the world’s largest, will increase asset sales by more than five times to about 4 trillion yen ($48 billion) this fiscal year as payouts rise with the nation’s population aging.
That follows 720 billion yen raised in the fiscal year ended in March, all through sales of its Japanese bond holdings, Takahiro Mitani, president of the Government Pension Investment Fund, said in an interview in Tokyo yesterday. Japanese bonds accounted for 71 percent of the GPIF’s 117 trillion yen of assets as of June 30, while domestic stocks made up 11 percent, the fund’s statements show.