Apr
25
World’s Biggest Pension Fund to Hedge Yen, Nikkei Reports
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Protection to focus mainly on dollar, euro assets, GPIF says
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Norihiro Takahashi, fund’s new president, speaks in interview
Japan’s $1.3 trillion pension fund will start currency hedging to protect its foreign assets against an appreciating yen, the Nikkei newspaper reported.
The Government Pension Investment Fund is looking to hedge dollar and euro-based investments, President Norihiro Takahashi said in an interview, according to the Nikkei. Takahashi, who took the role at the start of this month, said that while he doesn’t rule out protecting emerging-market assets, the fund will concentrate on major currencies because of the size of positions denominated in them…