JAPAN - The Government Pension Investment Fund of Japan (GPIF) posted returns of 1.06% in the quarter ended September 30, down from 3.89% the previous quarter.
In its quarterly results released today, the GPIF said its investments in domestic stocks and foreign bonds were both negative for the quarter. Domestic stocks returned -1.34% for the quarter, versus 20.55% in the first quarter, while foreign bonds were down 2.24% versus positive returns of 1.68% last quarter.
The best performing asset class was international equities with returns of 10.32%.
The GPIF's total assets reached JPY122.1trn (US$1.4trn), up slightly from JPY121.8trn. The scheme invests JPY99.3trn in the markets with the rest invested in Fiscal Investments and Loan Program (FILP) bonds, a type of Japanese government bond.
The GPIF portfolio allocates 70.04% to domestic bonds, 18.61% to FILP bonds, 11.1% to domestic stocks, 8.15% to international bonds, 9.64% to international stocks and 1.07% to short-term investments.
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