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Japanese Government Pension Investment Fund tipped to spark real estate boom | 28 June 2013

Japanese Government Pension Investment Fund tipped to spark real estate boom | 28 June 2013

Japan’s Government Pension Investment Fund (GPIF) has been tipped to become a major player in the global real estate market.

Experts from the world’s largest commercial property broker CBRE made the prediction, following comments from Japanese prime minister Shinzo Abe earlier this week.

A seven-person government panel has been appointed to discuss a new investment strategy on July 1.

Japan currently holds the world’s largest public pension fund, estimated to be equal to around $1.1 trillion. A decision to invest billions of pounds in commercial property could have dramatic effects in real estate markets across the globe.

Speaking to reuters.com, GPIF chairman Takahiro Mitani remained coy about the future investment strategies that could be applied.

“All we can do right now is calmly wait for the outcome of the panel. We’ll obey the government’s decision if it decides to change the law or the framework for us to be more aggressive,” he said.

GPIF has already dramatically shaken up its portfolio of stock in recent weeks. According to bloomberg.com, the body reduced its allocation of government bonds from 67 per cent to 60 per cent. This has been described as the most dramatic change in strategy since the body’s formation in 2001.

The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.

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