Government Pension Investment Fund

Administrative agency in Japan

Government Pension Investment Fund

Headquarters at Toranomon Hills
Native name	年金積立金管理運用独立行政法人
Company type	Pension fund
Industry	Financial services
Founded	2006
Headquarters	Toranomon Hills, Toranomon, Minato, Tokyo, Japan
Key people	Masataka Miyazono (President)
AUM	¥196.6 trillion (2022) (US$1.5 trillion)^[1]
Website	www.gpif.go.jp

Government Pension Investment Fund (年金積立金管理運用独立行政法人, Nenkin Tsumitate-kin Kanri Un'yō Dokuritsu-gyōsei-Hōjin), or GPIF, is an incorporated administrative agency (an independent administrative institution), established by the Japanese government. It is the largest pool of retirement savings in the world. Japan's GPIF is the largest public fund investor in Japan by assets and is a major proponent of the Stewardship Principles.^[2]

Profile

The Government Pension Investment Fund (GPIF) states that it has been established on the following investment principles:

The overarching goal should be achieve the investment returns required for the public pension system with minimal risks, solely for the benefit of pension recipients from a long-term perspective, thereby contributing to the stability of the system.
The primary investment strategy should be diversification by asset class, region, and timeframe. While acknowledging fluctuations of market prices in the short term, we shall achieve investment returns in a more stable and efficient manner by taking advantage of our long-term investment horizon, whilst at the same time we shall secure sufficient liquidity to pay pension benefits.
We formulate the policy asset mix, and manage and control risks at the levels of the overall asset portfolio, each asset class, and each asset manager. We employ both passive and active investments to benchmark returns (i.e. average market returns) set for each asset class, while seeking untapped profitable investment opportunities.
By fulfilling our responsibilities, we shall continue to maximise medium-to long-term equity investment returns for the benefit of pension recipients.

In August 2023 the GPIF reported a record quarterly profit of ¥18.98 trillion ($133.2 billion). This strong performance was attributed to high global stock performance and the weakness of the Japanese Yen which increased overseas returns. ^[3]

Collaboration

The GPIF has diversified investments with the following external asset management institutions:

Notes

^ "GPIF's Investment Style" (PDF). www.gpif.go.jp. March 31, 2022. p. in PDF on Page 3 in part 2.
^ "Chat with the Chief: Hiromichi Mizuno". Sovereign Wealth Fund Institute. Retrieved 21 May 2018.
^ Yamazaki, Makiko (4 August 2023). "Japan's GPIF posts record quarterly profit of $133 bln". Nasdaq.com. Retrieved 4 August 2023.

External links

Official website (English)
GPIF SWF Institute Profile

Incorporated Administrative Agencies in Japan

There are 102 institutions as of April 1, 2012. Bold institutions employ national public servants.

Cabinet Office

National Archives of Japan
ja:Northern Territories Issue Association
ja:National Consumer Affairs Center of Japan

Ministry of
Internal Affairs
and
Communications

National Institute of Information and Communications Technology (NICT)
ja:National Statistics Center
ja:Public Foundation for Peace and Consolation
ja:Management Organization for Postal Savings and Postal Life Insurance

Ministry of
Foreign Affairs

Ministry of
Finance

ja:National Research Institute of Brewing
Japan Mint
National Printing Bureau
Commemorative Organization for the Japan World Exposition '70

Ministry of
Education,
Culture,
Sports,
Science and
Technology

ja:National Institute of Special Education
National Center for University Entrance Examinations
ja:National Institution For Youth Education
ja:National Women's Education Center
National Museum of Nature and Science
National Institute for Materials Science
ja:National Research Institute for Earth Science and Disaster Prevention
ja:National Institutes for Quantum and Radiological Science and Technology
National Institutes for Cultural Heritage
ja:National Institute of Radiological Sciences
ja:National Center for Teachers' Development
Japan Science and Technology Agency
Japan Society for the Promotion of Science
RIKEN
Japan Aerospace Exploration Agency
ja:National Agency for the Advancement of Sports and Health
Japan Arts Council
ja:Japan Student Services Organization
Japan Agency for Marine-Earth Science and Technology
ja:Institute of National Colleges of Technology
National Institution for Academic Degrees and University Evaluation
Japan Atomic Energy Agency

Ministry of
Health,
Labour, and
Welfare

ja:National Institute of Health and Nutrition
ja:National Institute of Occupational Safety and Health
ja:Organization for Workers Retirement Allowance Mutual Aid
ja:Japan Organization for Employment of the Elderly, Persons with Disabilities and Job
Seekers
ja:Welfare And Medical Service Agency
ja:National Center for Persons with Severe Intellectual Disabilities, Nozominosono
Japan Institute for Labour Policy and Training
ja:Japan Labour Health and Welfare Organization
ja:National Hospital Organization
ja:Pharmaceutical and Medical Devices Agency
ja:National Institute of Biomedical Innovation
ja:Readjustment of Facilities for Insured Persons and Beneficiaries Organization
Government Pension Investment Fund
ja:National Cancer Center
ja:National Cerebral and Cardiovascular Center Hospital
ja:National Center of Neurology and Psychiatry
ja:National Center for Global Health and Medicine
ja:National Center for Child Health and Development
ja:National Center for Geriatrics and Gerontrogy