TOKYO -- Japan's Government Pension Investment Fund, one of the world's largest institutional investors, has shifted to become a net seller of Japanese stocks as rising prices threaten to push it over a 25% portfolio weight target, estimates show.
The fund, which manages about 170 trillion yen ($1.62 trillion) in assets, sold around 500 billion yen of domestic stocks on a net basis in the July-September period, Masahiro Nishikawa of Nomura Securities said. GPIF appears to be a net seller in the current quarter as well, after acting as a net buyer during the first half of 2020.
