July 24, 2014 / 8:22 AM / 4 years ago

Japan econmin: GPIF portfolio shift will encourage investment in stocks

TOKYO, July 24 (Reuters) - Investors will shift funds to equities from Japanese government bonds as Japan’s public pension fund, the Government Pension Investment Fund (GPIF), allocates more of its portfolio to stocks, Economics Minister Akira Amari said on Thursday.

“When the economy is moving away from deflation and heading toward mild inflation, you need to radically change your portfolio (management). Of course that will push up stock prices,” Amari told a seminar.

He also said Prime Minister Shinzo Abe is expected to reshuffle his cabinet before convening an extraordinary parliament session in October. (Reporting by Leika Kihara; Editing by Chris Gallagher)

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