Japan's giant pension fund sold $32 bln of assets in 2011/12
News On Japan via Reuters -- Jul 06
Japan's Government Pension Investment Fund, the world's biggest public pension fund, said on Friday it sold or cashed out a total of 2.54 trillion yen ($31.77 billion) of domestic and foreign bonds in the financial year that ended in March to raise cash to cover to payout shortfalls.
The public pension fund, known as the GPIF, has become a net seller of assets to raise cash for pension payouts since 2009/10, after inflows from loans being paid back by public entities stopped.
The fund, under pressure to raise returns to cope with a rapidly ageing population, is closely watched by markets given the size of its $1.42 trillion portfolio, which is bigger than the economy of Spain, the world's 12th largest.
It is the third straight year in which the fund has been a net seller of assets.
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