The Government Pension Investment Fund endorsed the change in investment strategy on Friday. Prime Minister Shinzo Abe and other officials say it is needed to ensure the fund can meet its obligations to retirees.
The plan agreed to Friday calls for holdings of bonds to fall from about 60 per cent to 35 per cent. Holdings of shares will rise to about 50 per cent, with half in domestic shares and half in foreign shares.
Japan's share market got a boost Friday from the pension fund plan and from a central bank decision to expand monetary easing to boost growth.Suggest a correction