March 24, 2020 / 9:53 AM / 12 days ago

Japan's $1.5 trillion GPIF to raise foreign bonds, cut domestic bonds, Nikkei says

TOKYO, March 24 (Reuters) - Japan’s Government Pension Investment Fund (GPIF), the world’s largest pension fund, will raise its foreign bond allocation target to 25% from 15%, the Nikkei newspaper reported on Tuesday.

The fund, which manages some $1.5 trillion in assets, will also cut its domestic bond allocation target to 25% from 35% now, the Nikkei said. The GPIF is due to announce a change in its asset allocation later this month. (Reporting by Takeshi Umekawa; Writing by David Dolan Editing by Louise Heavens)

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