World’s biggest pension fund had ¥196.8bn in core infrastructure as of 31 March 2018.: Japan’s Government Pension Investment Fund (GPIF) has recorded a return of 5.25% (in US dollars) on its ¥196.8bn (€1.51bn) core infrastructure portfolio in the 12 months ending 31 March 2018. It is the first time that the ¥156.4trn pension fund has disclosed details about its alternative investments in its annual investment report. According to the report, the infrastructure portfolio includes investments in the Port of Melbourne in Australia, and Birmingham Airport, Bristol Airport and Thames Water in the UK.