Japan GPIF Logs Record 37-T.-Yen Returns in FY 2020
Newsfrom JapanPolitics Lifestyle Economy
Tokyo, July 2 (Jiji Press)--Japan’s Government Pension Investment Fund said Friday it logged a record 37,798.6 billion yen in investment returns in fiscal 2020, turning a profit for the first time in two years.
The result reflected jumps in Japanese and foreign stock prices in the year to March on the back of massive fiscal and monetary stimulus in major countries to shore up their economies hurt by the novel coronavirus pandemic.
In fiscal 2019, the pension fund suffered its second-largest loss as stock prices fell amid the coronavirus outbreak.
The fiscal 2020 performance was far better than the previous high of 15,292.2 billion yen logged in fiscal 2014.
Total assets under the GPIF’s management came to 186,162.4 billion yen at the end of March this year. The cumulative returns since fiscal 2001, when it started financial market investments, reached 95,336.3 billion yen. Both were record highs.
[Copyright The Jiji Press, Ltd.]