Dana pencen terbesar dunia memperolehi laba US$21b

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World’s biggest pension fund gains US$21b
Monday March 6, 2017
12:50 PM GMT+8


Japan Prime Minister Shinzo Abe has said the fund’s short-term losses aren’t a problem for Japan’s pension finances. — Reuters pic

TOKYO, March 6 — The world’s biggest pension fund posted its first profit in three quarters as stocks rebounded, providing some respite for the Japanese state money manager after critics lambasted it for taking on too much risk.

The Government Pension Investment Fund returned 1.8 per cent, or 2.4 trillion yen (US$21 billion, RM93.5 billioon) in the three months ended Sept 30, boosting assets to 132.1 trillion yen, it said in Tokyo on Friday. Domestic and foreign equities added 3.1 trillion yen as they recovered from their Brexit rout, outweighing a loss of 706.9 billion yen on bond holdings.

The profit comes after the fund lost more than 10 trillion yen over the previous two quarters, wiping out all investment gains since it overhauled its strategy in 2014 by boosting shares and cutting debt. As Japanese stocks extend their advance and US equities climb to fresh records after Donald Trump’s election win, the prospect of further strong performance may help quash complaints at home that GPIF’s investing approach is too dangerous.

“It’ll take some pressure off,” said Naoki Fujiwara, chief fund manager at Shinkin Asset Management Co. in Tokyo. “This quarter will probably be good too. But before we all get too excited, we need to be wary about whether this can continue for long.”

Prime Minister Shinzo Abe said in parliament in September that the fund’s short-term losses aren’t a problem for Japan’s pension finances. GPIF’s purchases of stocks are a “gamble,” opposition lawmaker Yuichiro Tamaki said in an interview that month, after an almost 20 per cent drop in Japan’s Topix index in the first half of the year was followed by a 7.3 per cent one-day plunge after Britain’s shock vote to leave the European Union.

Domestic bonds, the only asset class to deliver a profit in the fiscal year ended March, posted a 1.3 per cent loss in the three months through September after yields rebounded. That reduced Japanese debt to 36 per cent of holdings, compared to a target allocation of 35 per cent. Yields on 10-year bonds climbed to minus 0.085 per cent at the end of September from negative 0.23 per cent at the end of June.

Asset weightings

Local stocks made up 22 per cent of GPIF’s portfolio at the end of September, while foreign shares accounted for 21 percent. That compares with targets of 25 per cent for each. GPIF delivered a 7.1 per cent gain on domestic stocks, beating a 6.2 percent rebound in the Topix during the period.

Returns from overseas assets were muted by a stronger yen, which rose 1.8 per cent against the US dollar in the quarter. GPIF’s international stocks gained 3.7 per cent, while foreign bonds lost 0.2 per cent as yields rose amid speculation the US will tighten borrowing costs.

Alternative assets accounted for 0.05 per cent of GPIF’s holdings, well below the allowable limit of five per cent. Toyota Motor Corp, Apple Inc and Microsoft Corp were the fund’s top stock investments at the end of March, while Japanese government bonds, US Treasuries and Italian debt were the largest bond holdings, GPIF said. — Bloomberg

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Lim Sian See
10 hrs ·

Today, the world;s biggest pension fund, the Japanese Government Pension Investment Fund (GPIF) just announced that in the 3rd Quarter ended Sept 30, 2016, they had returned 1.8 per cent, or 2.4 trillion yen (US$21 billion, RM93.5 billion).

This is an improvement for the first two quarters of 2016 where they lost more than 10 trillion yen (US$85 billion, RM375 billion).

Which means for the year, they are still losing 7.6 trillion yen (US$67 billion, RM297 billion) - meaning still NEGATIVE return for 2016 so far.

Previously, I had also shared that Singapore's CPF fund had returns returns of 0.23% for 2016 before their govt had to top up to become 2.5%.

And people in Malaysia complain that our EPF dividend was "just" 5.7%. while Pakatan politicians make all sorts of rubbish statements accusing 1MDB had affected it when the exposure from EPF was minimal and based on fixed income only.

https://www.facebook.com/lim.siansee/posts/1945406542344797