World's biggest pension fund, GPIF, adds 4.5 trillion yen as stocks rise

Tokyo

THE world's biggest pension fund posted its fifth-straight quarterly gain, the longest run in more than two years, as global stocks advanced to new highs and weakness in the yen helped boost the value of overseas investments.

Japan's Government Pension Investment Fund (GPIF) returned 3 per cent, or 4.5 trillion yen (S$54 billion), in the three months ended Sept 30, increasing assets to a record 156.8 trillion yen, it said in Tokyo on Thursday. Domestic equities added 1.8 trillion yen as the value of foreign equities increased by 2 trillion yen, particularly boosted by the euro's strength.