Japanese pension fund GPIF continues push to pick foreign assets

FILE PHOTO: The sign of Japan's Government Pension Investment Fund (GPIF) is seen after a news conference in Tokyo, Japan, April 1, 2016. REUTERS/Thomas Peter/File Photo

Japan’s Government Pension Investment Fund, the world’s largest pension fund, continued its push into foreign assets in the April-June quarter while reducing its investment in low-yielding Japanese bonds, figures based on the fund’s results showed on Friday.

GPIF bought a net 770 billion yen ($6.9 billion) of foreign assets during the quarter, putting 660 billion yen into foreign bonds and 110 billion yen into foreign stocks, according to Reuters calculations based on the fund’s data. By contrast, the fund cut its investment in domestic bonds by 870 billion yen.

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