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(Update) GPIF to Raise Investment Share of Foreign Bonds to 25 Pct

(Update) GPIF to Raise Investment Share of Foreign Bonds to 25 Pct

   Tokyo, March 25 (Jiji Press)--Japan's Government Pension Investment Fund plans to raise the proportion of foreign bonds in its portfolio to 25 pct from the current 15 pct for the five years from fiscal 2020, it was learned Wednesday.
   The public pension fund manager is finding it advisable to give more weight to higher-yield foreign bonds, amid the Bank of Japan's ultraeasy monetary policy, informed sources said.
   In the first review of its basic investment portfolio in about five and a half years, the GPIF will lower the share of domestic bonds to 25 pct from 35 pct while keeping the shares of domestic and foreign equities at 25 pct each, according to the sources.
   The GPIF's cumulative returns since it started investment in markets in fiscal 2001 stood at some 75 trillion yen at the end of last year, with interest and dividends accounting for about half of the total gains.
   The GPIF apparently believes that it needs to reduce lower-yield domestic bonds in its portfolio while increasing foreign bonds as it aims to continue securing stable investment returns. Domestic bonds accounted for 60 pct in the GPIF's portfolio before its previous review.

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AFP-JIJI PRESS NEWS JOURNAL


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