Japan’s State Pension Investment Fund, the world’s largest pension fund, said Friday that it achieved a return on investment of 10.35 trillion yen ($ 98.09 billion) in the third quarter as global stock markets rose.
He added in a statement that the assets he managed at the end of December amounted to 177.7 trillion yen, and that the return on total assets reached 6.29 percent over the three-month period.
In addition, Bank of Japan Governor Haruhiko Kuroda had expected his country’s economy to return to pre-Covid-19 levels at the beginning of the 2022 fiscal year.
He said, during the activities of the Davos Forum, that his bank expects, by the end of the fiscal year 2020, which ends next March, to record a negative growth of 5.6%.
He continued, “On the other hand, we expect a growth of 4% in the fiscal year 2021. As for the fiscal year 2022, we will record a growth of 2%.” He explained that the Japanese economy will return to recovery and pre-pandemic levels by the end of the fiscal year 2021 and the beginning of 2022.
Earlier, government data revealed that Japanese exports rose for the first time in two years in December, driven by shipments to China, providing a glimmer of hope for decision-makers who are counting on an export-led recovery amid an increase in coronavirus cases.