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GPIF logs returns of ¥2.38 tril. in FY18

Jiji Press TOKYO (Jiji Press) — The Government Pension Investment Fund said Friday that it logged ¥2,379.5 billion in investment returns in fiscal 2018, securing a profit for the third straight year.

The investment yield stood at 1.52 percent, marking a turnaround from an investment loss as of the end of December last year, the GPIF said.

The improvement chiefly stemmed from a pickup in U.S. and other foreign stock prices toward the end of March.

Still, the investment returns fell sharply from ¥10,081 billion in fiscal 2017.

In fiscal 2018, the GPIF logged ¥3,141.1 billion in profit from investment in foreign stocks, ¥697.5 billion from foreign bonds and ¥595.9 billion from domestic bonds.

The shares of foreign stocks and foreign bonds in the total assets under the GPIF’s management both hit record highs at the end of March, standing at 25.53 percent and 16.95 percent, respectively.

By contrast, the GPIF suffered a loss of ¥2,073.2 billion from investment in Japanese stocks, the first red ink in three years, due to the slow recovery of the domestic equity market.

In the January-March quarter, the GPIF logged ¥9,146.3 billion in investment returns.

As of March 31, the GPIF had ¥159,215.4 billion in total investment assets, the largest on a fiscal year-end basis since it started investment in markets in fiscal 2001.

Its cumulative investment returns came to ¥65,820.8 billion, also a record high.

At the end of March, the GPIF had 2,380 domestic stocks, with its portfolio including ¥1,318.4 billion in Toyota Motor Corp. shares and ¥666.7 billion in Softbank Group Corp. shares.Speech

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