TOKYO Dec 13 Investment by Japan's Government
Pension Investment Fund (GPIF) in infrastructure projects abroad
will amount to less than 1 percent of its 120 trillion yen
($1.16 trillion) fund, Takatoshi Ito, a government advisory
panel member, told reporters on Friday.
GPIF, the world's biggest public pension fund, will start
buying inflation-linked Japanese government bonds (JGBs) from
April and will join Canada's OMERS in investing in
infrastructure projects abroad, people familiar with the process
had said earlier on Friday.
The fund is under pressure to overhaul its portfolio, which
is heavily weighted towards very low-yielding straight JGBs, as
part of Prime Minister Shinzo Abe's drive to boost returns to
help support Japan's burgeoning elderly population. Abe also
wants to channel the nation's vast pools of financial assets
towards riskier investments and more productive uses.
($1 = 103.0250 Japanese yen)
(Reporting by Noriyuki Hirata; Writing by Shinichi Saoshiro;
Editing by Chang-Ran Kim)