October 1, 2019 / 2:31 AM / 2 months ago

Japan pension fund GPIF says to tweak bond classifications, allowing more foreign debt

TOKYO, Oct 1 (Reuters) - Japan’s Government Pension Investment Fund (GPIF) said on Tuesday it will adjust how it classifies some foreign debt, a move that would give the world’s top pension fund leeway to buy more foreign bonds.

The GPIF, which manages around 160 trillion yen ($1.5 trillion) of pension assets, will start classifying hedged foreign bonds as domestic debt, it said in a statement on its website.

Given Japan’s ultra-low interest rates, the fund has retreated from unprofitable domestic bonds and pushed into foreign assets. Because of its sheer size, the GPIF’s investment moves are closely watched by global investors. ($1 = 108.1800 yen) (Reporting by Takashi Umekawa; Writing by David Dolan; Editing by Kim Coghill)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below