TOKYO (Reuters) - Japan’s Government Pension Investment Fund (GPIF), the world’s biggest pension system, should quickly enact changes to its investment portfolio management strategy, a draft of the government’s growth strategy showed on Monday.
The pension fund must improve its governance as it changes its investment strategy, the draft said. The government is also considering legislation to change GPIF’s legal structure, the draft said.
Prime Minister Shinzo Abe has been pushing for GPIF to invest more in domestic stocks and less in Japanese government debt to generate higher returns for the fast-graying population and boost economic activity.
Reporting by Takaya Yamaguchi; Writing by Stanley White; Editing by Chris Gallagher