1 Jul 2022 17:19

Japan's pension fund has been selling Russian assets since March

MOSCOW. July 1 (Interfax) - The Government Pension Investment Fund (GPIF) of Japan, the world's largest management company in the area of pension savings, has been selling Russian assets from its portfolio since March, according to a statement included in the GPIF's annual report.

According to the statement, the GPIF's holdings in Russian assets have declined sharply, though the fund still owned some of the shares of Russian companies at the end of March owing to restrictions on their sale for foreign investors.

Eiji Ueda, CIO of the GPIF, noted that the fund has waived new investments in Russian assets as part of risk mitigation measures.

The total value of the GPIF's assets decreased 1.1% quarter-on-quarter to 196.6 trillion yen, or $1.46 trillion, in Q1 2022. The value of Japanese shares owned by the GPIF declined 1.2%, and foreign shares decreased 0.6%; and Japanese bonds dipped 1.5%, and foreign bonds were down 1.2%.

The value of the GPIF's assets increased 5.4% year-on-year. The return on investment in shares of foreign companies was 18.5%, and the ROI in shares of local companies was 2.1%.