Japan’s Government Pension Investment Fund (GPIF), the world’s largest pension fund, achieved its best performance since the quarter ending March 2024. In the three months leading up to September, the fund saw a gain of 5.52%, equivalent to ¥14.447 trillion ($94.1 billion). This performance was primarily driven by global equities and favorable currency fluctuations, pushing the GPIF's total assets to ¥277.6 trillion.
Domestic investments played a significant role, with Japanese stocks returning 11.0%, though domestic bonds saw a loss of 1.4%. Overseas investments also contributed positively, with foreign shares adding 9.8% and foreign bonds rising by 3.0%.
This strong quarterly gain follows other notable performances by the GPIF. In the October-December quarter, it reported a ¥10.7 trillion ($70.6 billion) investment gain, a recovery from a ¥9.13 trillion loss in the preceding quarter. Its foreign stock portfolio gained 8.96%, and its Japanese stock portfolio gained 5.55% during that period. Additionally, in the January-March quarter, the GPIF posted a ¥10.3 trillion ($72.02 billion) investment gain, ending a four-quarter losing streak, with foreign stocks gaining 8.19% and Japanese stocks gaining 7.03%.
