Stockholding Ratio At Corp Pension Funds Hits Record Low

The ratio of Japanese stocks held by major domestic corporate pension funds stood at a record low 16.8% at the end of August, less than half the December 1999 peak of 36.6%, accordinf to the Nikkei. Since the combined ratio for domestic bonds and general-account assets with guaranteed interest rates increased 1.5% to a record high 49%, many pension funds appear to have shifted their assets to the relatively stable bond market to escape falling share prices at home and abroad.