GPIF’s Q3 results reflect excellent performance so far this year

The Government Pension Investment Fund’s assets stood at 162,672.3 billion yen at the end of the financial third quarter on 31 December 2017, compared with 156,817.7bn yen three months earlier, as markets boosted the value of its domestic and foreign stocks portfolios and it appeared to shift out of short-term funds.

The modified total return for the quarter was 3.94%, giving a time-weighted return for the first nine months of the financial year of an excellent 10.70%.

Asset allocation was little changed and the shift out of short-term placements seems to indicate that GPIF is confident to maintain it going forward.Text continues after charts

Barring a major upset the fund is on track to surpass the return of 12.27% which it achieved in the year ending 31 March 2015 — by far the best since it was converted from the old Nenpuku in 2002.

Elsewhere the Fund’s chief investment officer Hiro Mizuno was telling a London Stock Exchange Conference that it wants to see more gender diversity on company boards according to a story in the Financial Times .

© 2018 Japan Pensions Industry Database/Jo McBride. Reporting on, and analysis of, the secretive business of Japanese institutional investment takes big commitments of money and time. This blog is one of the products of such commitment. It may nonetheless be reproduced or used as a source without charge so long as (but only so long as) the use is credited to and a link provided to the original text on that site.

This blog would not exist without the help and humour of Diane Stormont, 1959-2012


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