Largest Global Pension Fund Posts Record Gain as Stocks Rise
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Japan’s $1.1 trillion retirement fund posted its best annual return on record, buoyed by gains in stocks and a weaker yen.
The Government Pension Investment Fund delivered a 12 percent return in the year ended March 31, the most since its 2001 inception, it said in a statement. Assets under management swelled to 137.5 trillion yen ($1.1 trillion), also a record, as domestic stocks gained 30 percent. The yen’s 14 percent decline against the greenback helped overseas equities provide a 22 percent return, while local bonds made 2.8 percent.