Japan public pension cuts JGB weighting, lifts allocation to stocks

TOKYO, June 7 Fri Jun 7, 2013 2:17am EDT

TOKYO, June 7 (Reuters) - Japan's Government Pension Investment Fund (GPIF), the world's largest public pension fund with more than $1 trillion of assets, said on Friday it would lift its weighting in foreign and domestic stocks while cutting its target allocation for Japanese government bonds.

GPIF, which has been reviewing its investment model, said it would raise its target allocation for Japanese stocks to 12 percent from 11 percent previously, while lowering its yen bond weighting to 60 percent from 67 percent.

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