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Japanese pension fund to invest in Chinese stock market
By Louise Ho |
May 8, 2012, Tuesday
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Online Edition
Online Edition
JAPAN plans to invest its pension fund in China's stock market, possibly in June, to diversify assets, The Mainichi newspaper reported today, citing sources close to the matter.
Japan's Government Pension Investment Fund, which manages the world's largest public pension reserves at 108 trillion yen (US$1.3 trillion), said stock markets in emerging economies such as China and India have become more attractive as investment targets, the report said quoting sources.
At the end of 2011 the fund invested about 10 percent of its reserves in foreign stocks, mostly in developed markets, and it plans to include emerging markets as part of foreign investment, said the report. The majority of the reserves are invested in Japanese bonds.
In April, Takahiro Mitani, president of GPIF, told Bloomberg News: "We expect to start investing in emerging market stocks by the end of this quarter or the beginning of the next quarter."
Foreign investors are attracted to China's A-shares, which have a low valuation but high returns, analysts said. An increasing number of countries are investing in China through the Qualified Foreign Institutional Investor (QFII) program, which allows foreigners to invest in China's bonds and equities. China expanded the QFII quota from 30 billion yuan (US$4.75 billion) to 80 billion yuan last month.
Japan's Government Pension Investment Fund, which manages the world's largest public pension reserves at 108 trillion yen (US$1.3 trillion), said stock markets in emerging economies such as China and India have become more attractive as investment targets, the report said quoting sources.
At the end of 2011 the fund invested about 10 percent of its reserves in foreign stocks, mostly in developed markets, and it plans to include emerging markets as part of foreign investment, said the report. The majority of the reserves are invested in Japanese bonds.
In April, Takahiro Mitani, president of GPIF, told Bloomberg News: "We expect to start investing in emerging market stocks by the end of this quarter or the beginning of the next quarter."
Foreign investors are attracted to China's A-shares, which have a low valuation but high returns, analysts said. An increasing number of countries are investing in China through the Qualified Foreign Institutional Investor (QFII) program, which allows foreigners to invest in China's bonds and equities. China expanded the QFII quota from 30 billion yuan (US$4.75 billion) to 80 billion yuan last month.
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