TOKYO, March 25 (Reuters) - The head of Japan’s $1.26 trillion public pension fund, the world’s largest, said a review of asset allocations into stocks is not aimed at supporting domestic share prices, the Asahi newspaper reported on Tuesday.
Takahiro Mitani, president of the Government Pension Investment Fund (GPIF), also told the newspaper that he is not uncomfortable about lowering holdings of Japanese bonds to a certain extent, given low debt yield conditions in Japan.
An advisory panel to the health ministry said in a draft report earlier this month that the GPIF need not cling to the safety and paltry yields of government bonds.
Prime Minister Shinzo Abe’s government is pressing the GPIF to buy more stocks and invest relatively less in bonds to generate higher returns for Japan’s fast-greying population. (Reporting by Chikafumi Hodo and Emi Emoto; Writing by Dominic Lau; Editing by Edmund Klamann)