Published at 01:32 (GMT) 10 Mar

US INDEX, USD/JPY Flows - NKS: GPIF To Keep Asset Allocations For 5 Yrs (HTJC2001)

 

USD/JPY at 89.95-00 - hearing 2-way flows : FY repatriation/ exporters vs offshore investment/toushin; some focus on the GPIF investment flows, NKS: The Govt Pension Investment Fund (GPIF) plans to maintain its current asset allocations for 5 years starting in fiscal 2010 in line with Welfare Minister Akira Nagatsuma's preference for the status quo. The pension fund manages about Y122 trillion ($1.36tln) of the nation's public pension assets. Consequently, the GPIF is poised to maintain its existing weighting targets by having JGBs account for 67% of assets, while domestic stocks and overseas bonds total 11% and 8%, respectively. Foreign stocks and short-term assets are slated to stay put at 9% and 5% each. On FX, USD/JPY in 89.50-90.50 range, as Cross/JPY looking offered, some risk aversion, USD bid, 80.573, eye 9-m high 81.342 on Fed hopes, higher yields.WL