December 3, 2019 / 10:47 AM / 9 days ago

Japan pension fund GPIF announces halt to stock lending

TOKYO, Dec 3 (Reuters) - Japan’s Government Pension Investment Fund (GPIF), the world’s largest pension fund, announced on Tuesday it has suspended stock lending, saying the practice is inconsistent with its stewardship responsibilities as a long-term investor.

“The current stock lending scheme lacks transparency in terms of who is the ultimate borrower and for what purpose they are borrowing,” the GPIF said in a statement on its website. (Reporting by Tim Kelly; Editing by Andrew Heavens)

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