World’s Top Pension Fund Books ‘Historic’ $339 Billion Gain
The world’s biggest pension fund posted a record return for the fiscal year ended March, boosting its assets to a new high and beating its benchmark for the first time in seven years.
Japan’s Government Pension Investment Fund booked a gain on its investments of 25%, or 37.8 trillion yen ($339 billion), in the 12 months ended March, the most since the fund started managing the nation’s pension reserves in 2001.
Overseas stocks were its best-performing asset in the period, returning 59.4%, followed by a 41.6% return in domestic stocks. Overseas debt gained 7.1%, while Japanese debt lost 0.7%. The fund’s return exceeded its compound benchmark by 0.3%.
Speaking in Tokyo, GPIF President Masataka Miyazono said the return was “historically, especially high,” though he cautioned the markets had seen a “tailwind” from the boom in equities throughout the year, and that future years would see headwinds too. He didn’t expect such a one-sided return on stocks this fiscal year, he added.
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