World's Biggest Pension Fund Has Best Performance in 2 Years
- GPIF assets rise to record 144.9 trillion yen for fiscal year
- Retirement fund’s top stock holdings include Toyota, Apple
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The world’s biggest pension fund posted its best annual gain in two years, as Japanese and overseas stocks rose while government bonds slid.
The Government Pension Investment Fund returned 5.9 percent, or 7.9 trillion yen ($70 billion), in the year ended March 31, increasing assets to a record 144.9 trillion yen, it said in Tokyo on Friday. That’s the biggest advance since the fiscal year ended March 31, 2015, when it had its best annual performance on record. Domestic equities added 4.6 trillion yen as the benchmark Topix index climbed 12 percent, outweighing a loss on foreign and domestic bond holdings. Foreign stocks rose, increasing 4.3 trillion yen.