Japan's US$1.1 trillion pension fund boosts infrastructure section

Tokyo

JAPAN's 135 trillion yen (S$1.57 trillion) Government Pension Investment Fund is building up its alternative investment department after raising bets on infrastructure projects more than 10-fold to secure higher returns than low-yielding bonds.

The world's largest retiree fund has boosted staff in its alternative investment section, formed last year, to five people, Shinichirou Mori, director of the fund's planning department, said on Friday in Tokyo. The fund is still trying to hire more people for the department, according to its website.