World’s Largest Pension Fund GPIF Has Record Gain
- Assets rise to a record with domestic stocks top performer
- Bonds keep underperforming stocks amid monetary policy risk
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Japan’s state pension fund, the world’s largest, posted a record gain of ¥18.98 trillion ($133 billion) during the three months through June on returns from domestic stocks and overseas bonds.
The Government Pension Investment Fund added 9.5% during the quarter, raising total assets to an unprecedented 219.17 trillion yen, the fund said in Tokyo Friday. Domestic stocks were the top performers, gaining 14.4% as signs of stable inflation reinvigorated Japanese markets and investors including Warren Buffett boosted equity stakes.