Trump gives surprise boost to Japan's biggest pension fund GPIF

Tokyo

One of the world's most conservative investors has found an unlikely new ally in one of its most flamboyant politicians: Donald Trump.

The unconventional president-elect's victory is helping Japan's giant pension fund in two important ways. First, it's sending stock markets surging, both at home and overseas, which is good news for the largely passive equity investor. Second, it's spurred a tumble in the yen, which increases the value of the Japanese manager's overseas investments. After the US$1.2 trillion Government Pension Investment Fund reported its first gain in four quarters, analysts are betting the Trump factor means there's more good news to come.