Opinion: Why GPIF should shrug off loss of 'world's biggest' tag
The Japanese state pension fund can dismiss its dethronement as the world’s largest asset owner, as relative rankings are immaterial to its marathon mission of delivering long-term returns.
For long-term investors like Japan's Government Pension Investment Fund (GPIF), labels such as "world's biggest" are mere vanity metrics, irrelevant to the core task of generating sustainable returns.
The state pension fund would be wise to rhetorically shrug its shoulders at recently being outranked by Norway's sovereign wealth fund in US dollar terms, as compared to some media outlets that sought the tabloid angle.
GPIF’s latest annual report showed its portfolio reached ¥2…
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