Japan’s public pension funds boosted holdings of foreign assets to a record in the three months through December, while reducing their investment in local sovereign debt to the least in more than a decade.
The funds bought a net 1.3 trillion yen ($11.5 billion) of overseas securities, bringing their total to 59.5 trillion yen, and also added to investments in domestic equities, Bank of Japan data published Friday show. They offloaded a net 704.4 billion yen in Japanese government bonds, leaving them holding 51.8 trillion yen of such debt, the lowest total since the third quarter of 2004.