12 March 2002, 13:24 Japan to invest 24 pct state pension funds in domestic equity next fiscal yr
TOKYO (AFX-ASIA) - The health and welfare ministry said it targets
an allocation of 24 pct of total state pension funds of 35.5 trln yen
in the next fiscal year for domestic equities.
The total figure includes 9 trln yen in new funds for the year. The
percentage figure allocated to domestic stocks compares with a target
of 26 pct for the current fiscal year.
The ministry added that it aims to invest next fiscal year some 51
pct of the total funds in domestic bonds, 8 pct in foreign bonds, 14
pct in foreign equities and 3 pct in short-term instruments.
This compares with 52 pct in domestic bonds, 6 pct in foreign
bonds, and 14 pct in foreign equities projected for the current fiscal
year.
"All members of the social welfare council meeting agreed not to
use pension funds to specially boost stock prices," a senior official
from the health and welfare ministry said.
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