Japan's GPIF Posts Oct.-Dec. Profit of Over 10 T. Yen
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Tokyo, Feb. 5 (Jiji Press)--Japan's Government Pension Investment Fund said Friday that it earned an investment profit of 10,352.8 billion yen in the October-December third quarter of fiscal 2020.
The GPIF posted a profit for the third successive quarter. The strong performance was attributed to stock price rises at home and abroad, amid the coronavirus pandemic.
The GPIF's investment assets totaled 177,703 billion yen at the end of December, while its cumulative returns since fiscal 2001 when its investment in markets started came to 85,301.1 billion yen. Both figures surpassed the record highs set a year earlier.
The benchmark Nikkei stock average on 225 select issues listed on the first section of the Tokyo Stock Exchange gained more than 4,000 points in October-December. The U.S. Dow Jones industrial stock average rose nearly 3,000 points in the same period.
Reflecting the strong equity market performances, the GPIF generated 5,165.6 billion yen in profit from foreign stock investment and 4,651.7 billion yen from investment in Japanese stocks. Profit from foreign bonds came to 524 billion yen, and that from domestic bonds 7.2 billion yen.
[Copyright The Jiji Press, Ltd.]