Japan’s Government Pension Investment Fund posted its best quarter since the three months ended in March as strength in the dollar helped it post valuation gains in its overseas securities.
GPIF, one of the world’s largest state pension funds, posted mark to market profits in three of four major asset classes — foreign stocks and bonds as well as Japanese equities — with only domestic debt incurring a loss.
The fund had a gain of ¥10.7 trillion ($70.5 billion), or 4.3%, in the three months through December, with assets totaling ¥258.7 trillion, it said in Tokyo on Feb. 7.
The strength of other global currencies versus the yen supported overseas investments, with gains of 9% for stocks and 4.1% for bonds. Japanese stocks added 5.6%, while domestic debt lost 1.3%.
