GPIF To Buy Emerging-Market Stocks Next Summer

The Government Pension Investment Fund (GPIF), which AUM is about 117 trillion yen, plans to expand its investment portfolio to include emerging-market stocks next summer, according to Nikkei. The GPIF has mainly invested in Japanese government bonds and other domestic debt securities with around 9% in foreign securities. It plans to revise its investment guidelines to buy shares listed in the BRICs, South Africa, Mexico and other emerging countries.