Japan’s Cabinet Secretariat Chief Cabinet Secretary reiterated that GPIF will adjust its benchmark investment portfolio as needed
CoinDesk news: Japan’s Chief Cabinet Secretary reiterated that the government will seek ways to encourage Japan’s Government Pension Investment Fund (GPIF) to make “substantially larger investments” in Japanese financial assets. This sparked gains in the yen and domestic bond markets, leading market speculation that this could result in tens of billions of dollars flowing into the Japanese market through GPIF. GPIF is the world’s largest pension fund, managing assets worth $1.8 trillion. Although earlier reports said Japan had not immediately changed its target asset allocation plan for the national pension fund, sources indicated that the directive could still steer more investment toward domestic assets within the existing permitted range. Under the current plan, GPIF allocates 25% of its assets to domestic bonds, foreign bonds, domestic equities, and foreign equities. With domestic long-term yields rising recently, Japanese government bonds appear more attractive than similar assets in foreign markets.


