Many traders and investors have speculated that one of the main reasons behind the Abe government’s call for the Government Pension Investment Fund to shed some of its heavy weighting to domestic bonds is to buoy Japan’s stock market.
Not so, says the government!
- As part of the release of Japan’s growth strategy yesterday the government made a point of saying why the GPIF will shift its portfolio in a revised set of policy goals (to be released Tuesday):
- “Investment reform will take place exclusively for the benefit of those covered by the pension system”
- As a result ultimately, such an investment strategy would help promote “a virtuous economic cycle”
Also
- Says the GPIF would reshuffle its portfolio “as quickly as possible”
- Aim for “more flexible investment management”
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Now, if you’ll excuse me for just a moment, there’s an something interesting in the sky outside I want to look at:
(More cute pics here)
