TOKYO — A global stock rally powered a year of record returns for Japan’s Government Pension Investment Fund, one of the world’s biggest institutional investors, which is likely to face a higher bar for gains as wages rise.
The GPIF booked a gain of 45.4 trillion yen ($282 billion) for the fiscal year ended March. Besides higher share prices, the fund also benefited from a weak yen, which made overseas gains worth more in its home currency.
