TOKYO, June 6 (Reuters) - Japanese Health Minister Norihisa Tamura said on Friday that he was instructed by Prime Minister Shinzo Abe to accelerate the asset allocation review by the country’s $1.26 trillion public fund, the Government Pension Investment Fund.
Tamura will urge the GPIF to complete the review process quickly by taking into account changes in Japan’s economic environment, he told a news conference after a regular cabinet meeting.
Earlier this week, the ministry completed an evaluation of the public pension system that paved the way for the GPIF to begin the review of its asset allocations, a process set to shift more money into stocks and less into domestic bonds.
Global financial markets are keenly watching the GPIF’s investment strategy because the fund, bigger than Mexico’s economy, is a huge investor and a bellwether for other Japanese institutional investors. (Reporting by Takaya Yamaguchi and Chikafumi Hodo; Editing by Chris Gallagher)