Pension watchers say GPIF to buy more stocks

Domestic debt: A man using his mobile phone walks past the BoJ headquarters in Tokyo. Some suspect the government wants GPIF to buy more bonds as the central bank prepares to taper debt purchases through the first quarter of 2026. — Reuters

TOKYO: Japan’s US$1.75 trillion state pension fund may step up purchases of domestic stocks and scale back on foreign bonds in a reallocation of assets that would ripple through global markets.

A Bloomberg survey showed that almost half of the 21 analysts polled said the Government Pension Investment Fund (GPIF) would boost its allocation target for Japanese equities above 25% as part of a portfolio revamp from April.