November 2, 2017 / 7:52 AM / a year ago

Japan's GPIF posts 2.97 pct return in Sept quarter on stocks rally

TOKYO, Nov 2 (Reuters) - Japan’s Government Pension Investment Fund (GPIF), the world’s largest pension fund, posted a 2.97 percent return on its investment in the September quarter as global stocks rallied.

GPIF, which managed 157 trillion yen, or about $1.38 trillion, of pension money for Japanese nationals during the quarter, reported on Thursday a gain of 4.45 trillion yen for the three months.

Japanese stocks rose to their highest in more than two years in September, with the benchmark Topix index gaining 3.9 percent during the quarter.

GPIF said its Japanese stock portfolio achieved a 4.79 percent return, or a 1.8 trillion yen gain, while its foreign stock portfolio posted a 5.55 percent return, a gain of 2 trillion yen.

Its domestic bond portfolio returned 0.16 percent in the quarter, while its foreign bond holdings posted a 2.49 percent return.

GPIF’s Japanese stock holdings accounted for 24.35 percent of its assets, while its domestic bond portfolio made up 28.50 percent, it said.

The pension fund allocated 24.03 percent to foreign stocks in the quarter and 14.02 percent to foreign bonds. The remaining 9.1 percent was held mainly in cash.

In 2014, GPIF made a historic change by cutting its reliance on domestic bonds and increasing its weightings of riskier assets such as stocks. ($1 = 113.8900 yen) (Reporting by Junko Fujita; Editing by Subhranshu Sahu)

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