Japan government pension fund says holdings close to new targets
Bloomberg -- Jun 22
Japan's Government Pension Investment Fund, the world's No. 1 manager of retirement savings, doesn't need to adjust its holdings to meet new asset allocation targets announced earlier this month, according to President Takahiro Mitani.
GPIF, which oversaw about 112 trillion yen ($1.15 trillion) at Dec. 31, won't be discussing further changes to its portfolio this year, Mitani said in an interview in Tokyo today. The fund said June 7 it is cutting its target allocation for Japanese government bonds to 60 percent from 67 percent, while the weight of foreign and local shares will rise to 12 percent each, from 9 percent and 11 percent respectively.
The GPIF, which didn't alter the structure of its holdings during the worst global financial crisis in 80 years or in response to Japan's 2011 earthquake and nuclear disaster, is making changes as Prime Minister Shinzo Abe and the central bank pledge to achieve 2 percent inflation in two years, which will erode the value of domestic bond holdings. The target allocations announced this month are close to what the fund already holds, Mitani said.
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Kanagawa prefectural police said Friday they have arrested an unemployed 42-year-old man on assault charges for allegedly attacked a 10-year-old elementary school boy and two others as they were playing in Yokosuka City in February of this year. (Japan Today )
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People enjoy viewing the 15-meter snow walls of the Yuki no Otani (Great Snow Valley), along the Tateyama Kurobe Alpine Route that passes through the Northern Japan Alps to link Toyama and Nagano prefectures. (The Japan News )