* Return on overall assets was 1.14% vs 0.16% in Q1
* No new comments on president’s scandal (Adds details on scandal involving president)
By Takashi Umekawa and Takaya Yamaguchi
TOKYO, Nov 1 (Reuters) - Japan’s Government Pension Investment Fund, the world’s largest pension fund, reported on Friday a profit of 1.8 trillion yen ($16.7 billion) for July-September, but disclosed fewer details than usual as it reassesses its investment portfolio.
The GPIF, which managed 161.8 trillion yen of assets as of the end of September, said its return on overall assets was 1.14% in the second quarter, compared with 0.16% in the first quarter.
While the fund usually discloses the amount and ratio of investments in different asset classes, it decided to withhold such details ahead of a planned portfolio review to avoid affecting the market. The new portfolio is due to be finalised early next year, in time for the fiscal year beginning in April.
Friday’s update was GPIF’s first since the fund revealed last month that its President Norihiro Takahashi had had a relationship with a female employee, and that his pay would be cut by 20% for six months.
Takahashi did not report the relationship to the management committee in a timely manner, even after receiving complaints from other employees, GPIF said in October.
The fund did not address the issue in the latest financial report, despite concerns over whether the fund had proper governance in place.
$1 = 107.9700 yen Reporting by Takashi Umekawa and Takaya Yamaguchi; Editing by David Dolan and Susan Fenton