Japan’s GPIF Set to Boost Foreign Bonds as New Head Takes Charge
- Masataka Miyazono to take over as head of Japan’s GPIF
- Fund set to raise its foreign bond allocation to 25%
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Masataka Miyazono is taking over as the head of the world’s largest pension fund, and will spearhead its biggest strategy change in six years with global markets facing an unprecedented crisis.
The man appointed today to head Japan’s Government Pension Investment Fund will step into the role at a time when its $1.52 trillion portfolio has been battered by a whipsaw month in markets. He will take charge with GPIF set to allocate more funds to foreign bonds, according to a person familiar with its new portfolio.