Japan’s GPIF Benefited From 2016 Year-End Equity Boost

Japan’s Government Pension Investment Fund (GPIF) generated a 5.86% annual return for its latest fiscal year. With GPIF moving more money into equities over the past few years, the timing appeared to pay off at the end of 2016.

Equities Rallied

GPIF reached a record 144,903.4 billion JPY (US$ 1.302 trillion) in assets. The pension giant experienced a strong third fiscal quarter (period ending December 2016), generating a whopping 7.98% quarterly return. For that quarter, foreign equities generated a 16.46% return, while domestic equities generated a 15.18% quarterly return. Back at March 2007, GPIF had just a 9.1% allocation to foreign equities compared to an allocation of 23.12% from March 2017.

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