World’s Biggest Pension Fund Adds $23 Billion as Stocks Rebound
- GPIF reports 1.7% return on investment for April-June period
- Foreign stocks are the fund’s best performing investment
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The world’s biggest pension fund saw returns rebound last quarter with foreign stocks generating the biggest gain among its assets.
Japan’s Government Pension Investment Fund returned 1.7 percent, or 2.6 trillion yen ($23 billion), in the three months ended June 30, with assets totaling 158.6 trillion yen, it said in Tokyo on Friday. Foreign stocks were the fund’s best performing investment, adding 2 trillion yen, followed by a 420 billion yen increase in domestic shares. The percent of total assets allocated to overseas stocks reached a record high.