Jun
16

Japan’s Pensions Bought Local Shares, Sold Bonds Last Quarter

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  • Retirement managers turn net sellers of overseas assets
  • Stock-buying came as Topix index slumped at start of 2016

Japan’s public pension funds bought domestic stocks and sold bonds last quarter as the nation’s equities posted their worst start to a year in two decades and yields plumbed new depths below zero.

The funds purchased 965.4 billion yen ($9.2 billion) of local shares in the three months ended March 31, and sold 1.4 trillion yen of the country’s government bonds, an 11th straight quarter of net selling, according to Bank of Japan data published Friday. Pension managers also offloaded 86.7 billion yen in overseas assets, the first time they’ve been net sellers since the first quarter of 2014…

Japan’s Pensions Bought Local Shares, Sold Bonds Last Quarter

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