The pension fund for Japan’s civil servants is considering changing its ultraconservative investment strategy to allow more of its $80 billion to go into stocks and less into domestic government bonds, people familiar with the matter said.
The move by the Federation of National Public Service Personnel Mutual Aid Associations, which covers 1.24 million active and retired public servants, follows a shift towards riskier investments by Japan’s Government Pension Investment Fund, the world’s biggest pension fund with $1.2 trillion in assets.
Prime Minister Shinzo Abe is pushing public funds to increase returns as part of measures to revive the economy’s fortunes. His growth strategy seeks to mobilize Japan’s enormous public savings, such as GPIF and the civil servants› pension fund.
