Japan’s pension fund assets rise to $1.39 trillion

Official statistics revealed that Japan’s state pension fund recorded the strongest quarterly profit in more than two years thanks to gains in the world’s stock and bond markets in the first quarter of this year.

Japan’s state pension fund earned a profit of 5.4% during the first quarter of this year, bringing the value of assets to 200.13 trillion yen ($1.39 trillion) according to Bloomberg News Agency.

Foreign stocks were the best performers among the Fund’s assets, gaining 8.2%, as the United States began moving to overcome the banking crisis, while Japanese stock prices increased 7% during the first quarter. The value of foreign and domestic bonds also increased, while the yen fell against the dollar while the central bank of Japan maintained flexible monetary policy.

“Although we faced a volatile market in the fiscal year, we made gains thanks to the impact of diversifying our investment portfolio,” said the fund’s president, Masataka Miyazono.

Meanwhile, the Fund’s first quarter of this year’s gains allowed it to recover losses over the past year of 9 trillion yen, the longest continuous loss period in more than two decades.

Japanese stocks registered a strong rise during the current year, allowing local pension funds to sell trillions of yen in securities last month to achieve their target profits.

During the first three months of this year, the M.S. index rose. S. C.S. The broader S&P 500 index of U.S. stocks rose 7% while the broader Topix index of Japanese stocks rose 5.9%. The yield on the United States decimal place fell 41 basis points during the same period.