Japan's GPIF reaps record annual gain as active strategy pays off

Japan’s Government Pension Investment Fund (GPIF) posted a record yen gain of ¥45.4 trillion ($282.5 billion) on equities rally for the fiscal year ended March (FY2023), reaping the fruit from its active management strategy. Eiji Ueda GPIF The government-backed fund generated a return of 22.67% - second only to the return in FY2020’s 25.15%, with an overall alpha beating benchmarks by +0.04%, according to its annual report released on July 5. The performance brought …