Reuters: US Dollar Report: UPDATE 1-Japan public pension cuts govt bond weighting, lifts stocks

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Japan public pension cuts govt bond weighting, lifts stocks Jun 7th 2013, 06:41 Fri Jun 7, 2013 2:41am EDT TOKYO, June 7 (Reuters) - Japan's public pension fund, the world's largest with more than $1 trillion in assets, said on Friday it would lift its weighting in stocks and cut its allocation target for Japanese government bonds (JGB) in a bid to seek higher returns. The Government Pension Investment Fund (GPIF) said it would now allocate 12 percent of its portfolio to Japanese stocks, up from 11 percent previously, while lowering its JGB weighting to 60 percent from 67 percent. The revisions are the most significant for GPIF in years and are likely to have big implications for Japanese financial markets, which have gyrated in recent weeks over the prospect of change to the fund's investment strategy. GPIF said it would increase its weighting in foreign stocks to 12 percent from 9 percent and lift its allocation of foreign bonds to 11 percent from 8 percent. As part of a package of measures designed to kick economic growth into a higher gear, the government of Prime Minister Shinzo Abe had said earlier this week that it was considering whether to prod GPIF and other public funds to seek higher returns by boosting allocation to equities.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions