TOKYO, July 30 A Japanese school teachers'
pension fund will review its asset allocation with a view to
increasing holdings in Japanese shares as it prepares to
integrate with the mammoth Government Pension Investment Fund
(GPIF), the fund's officials said.
The Promotion of Mutual Aid Corporation for Private Schools
of Japan, which manages 3.8 trillion yen ($37.22 billion) of
assets, is due to be integrated with the GPIF in October next
"Based on common sense, I suspect the GPIF's model portfolio
will become our model portfolio," said Masayuki Tashiro, general
manager of asset management at the pension fund.
GPIF's investment committee has said the $1.25 trillion-GPIF
could raise its investment in stocks to 20 percent from the
current 12 percent target.
As of March, the teachers' pension fund held 382.9 billion
yen of Japanese stocks, or 10 percent of the total assets.
The funds' officials said they did not buy Japanese shares
in April-June. However, sources told Reuters earlier that the
fund and two other semi-public pension funds were buying
Japanese shares since May.
Japanese Prime Minister Shinzo Abe has been pushing for
Japanese public and semi-public pension funds to boost stock
Proponents say Japanese pension funds invest too heavily in
bonds and need to shift funds to stocks as Japan is expected to
emerge from a long phase of deflation. Critics suspect the real
motive is to help lift share prices.
($1 = 102.0900 Japanese Yen)
(Reporting by Hideyuki Sano; Editing by Simon Cameron-Moore)