Japan has no plan to change GPIF's target asset allocation — Reuters
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Na-update: 13 Jul 2026
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Japan currently has no immediate plans to change target asset allocations of its state pension funds but could work within existing allowable ranges to direct more investment to domestic assets, people with knowledge of government deliberations told Reuters.
Japan currently has no immediate plans to change target asset allocations of its state pension funds but could work within existing allowable ranges to direct more investment to domestic assets, people with knowledge of government deliberations told Reuters.
On Friday, Finance Minister Satsuki Katayama said that the government would seek ways to encourage pension funds, including the Government Pension Investment Fund's (GPIF), to make "substantially greater investments in Japanese financial assets.” Her comments sparked gains in the Japanese Yen (JPY) and bonds as investors bet billions of dollars could be channeled into Japanese markets through GPIF, the world's largest pension fund.
Two government sources said that while the government is exploring ways to boost such investments within the existing allowable ranges of the benchmark portfolio, the initiative won't lead to immediate revisions to GPIF's medium-term objectives
Market reaction
At the time of writing, USD/JPY is up 0.37% on the day at 162.30.
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