Japan’s Public Pension Fund Earns 14 T. Yen in July-Sept.

Tokyo, Nov. 7 (Jiji Press)–Japan’s Government Pension Investment Fund said Friday that it earned 14,447.7 billion yen in investment profit in the July-September period thanks to higher stock prices at home and abroad. The public pension fund posted a quarterly return rate of 5.52 pct. The GPIF had a profit of 7,048.4 billion yen in domestic stock investment as share prices rose on the back of a Japan-U.S. trade agreement and amid expectations for Japan’s economic measures. The fund earned 6,366.3 billion yen in profit on foreign stocks, backed by rises in shares related to artificial intelligence. The GPIF had a profit of 1,938.9 billion yen on foreign bonds, while suffering a loss of 905.9 billion yen on domestic bonds as expectations for an interest rate increase by the Bank of Japan pushed their prices lower. The fund’s cumulative profit from financial market investments that it started in fiscal 2001 reached 180,184.3 billion yen. The GPIF had 277,614.7 billion yen in assets under management at the end of September this year. END [Copyright The Jiji Press, Ltd.]