Japan’s GPIF Road the Equity Rally for a Massive Return for FY March 2021

Posted on 07/02/2021

Japan’s Government Pension Investment Fund (GPIF) revealed a record investment return of 37.7986 trillion yen (US$ 343 billion) for the year ended March 31, 2021. A while back, GPIF made the move to lower exposure to Japanese government bonds (JGB), while the Bank of Japan has floated its domestic market by buying Japanese ETFs. Holdings of Japanese bonds were at 25.92%, up from a record low of 23.64% in October-December 2020. GPIF’s fiscal period started when equity markets initially tanked due to the wide-spread COVID-19 outbreak.

Annual Returns for FY 2021, March 31
Total: 25.15%
Japanese Bonds: -0.68%
Foreign Bonds: 7.06%
Japanese Stocks: 41.55%
Foreign Stocks: 59.42%

GPIF considers itself a universal owner and relies on a passive index-tracking strategy so its returns follow the market.

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