November 16, 2018 / 6:50 AM / 5 months ago

REUTERS SUMMIT-GPIF now equipped to make hedges on various currencies -president

(For other news from the Reuters Global Investment 2019 Outlook Summit, click here)

TOKYO, Nov 16 (Reuters) - Japan’s Government Pension Investment Fund, the world’s largest pension fund, is now equipped to make hedges on various currencies, the head of the world’s largest pension fund said on Friday, while declining to say whether it was already doing so.

GPIF President Norihiro Takahashi, who heads the $1.5 trillion (170 trillion yen) fund, spoke to Reuters in Tokyo as part of the Reuters Global Investment 2019 Outlook Summit.

If GPIF hedges against currency risks on even a small portion of its 68.8 trillion yen holdings of foreign assets, that could have a huge impact in the currency exchange market by sharply boosting the yen.

Many market players believe that is one of the reasons that, unlike most other Japanese institutional investors, GPIF had hardly done any currency hedging in the past. ($1 = 113.38 yen) (Reporting By Tomo Uetake Editing by Chang-Ran Kim)

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