Monday, July 26

GPIF

government pension investment fund, GPIF, Japan, Markets, Masataka Miyazono, MI Exclusive, Pension Funds

The world’s biggest pension fund made $339 billion in a single year as its investments returned a record 25%

Japan's GPIF President Masataka Miyazono. REUTERS/Issei Kato Japan's Government Pension Investment Fund-the world's biggest pension fund-reaped in record returns for the 12 months ended March 31, Bloomberg first reported.The GPIF took in a 25% return, or 37.8 trillion yen ($339 billion), over the period. That marked a record for the fund dating back to its inception in 2001. It was also the first time in seven years that the fund beat its benchmark.Overseas stocks were the biggest positive driver, returning 59.4%, while domestic equities climbed 41.6%. Overseas debt rose 7.1%, while Japanese debt lost 0.7%, Bloomberg found.GPIF President Masataka Miyazono did warn, however, that the robust stock-market gains enjoyed by the fund are unsustainable and benefited from temporary tailw...