Japan’s Government Pension Investment Fund, Tokyo, announced Tuesday the value of its investment portfolio was $130.9 trillion yen ($1.11 trillion) as of the Sept. 30 close of its fiscal second quarter.
The pension fund had an investment gain of 2.9% for the quarter, said an announcement on the pension fund’s website.
As of Sept. 30, GPIF’s allocation to Japanese government bonds fell to 49.6% from 53.4% the previous quarter.
The pension fund announced Oct. 31 that its targeted allocation to domestic bonds would fall to 35% from 60%, while targets to domestic and international equities would more than double to 25% each from 12% each. In addition, the pension fund increased its international bond target to 15% from 11% and eliminated a 5% cash target.
At the end of September, the actual allocations to domestic equity and international equity were up to 18.2% and 17.4%, respectively, from 17.3% and 16% the previous quarter.
International bonds, meanwhile, inched up to 12.2% of the portfolio as of Sept. 30, up from 11% the previous quarter, while short-term assets rose to 2.6%, up from 2.3% the previous quarter.
