The Nikkei is carrying an article today headlines “Sovereign wealth funds buying more Japanese stocks”
- Sovereign wealth funds are stepping up their purchases of shares of Japanese companies
- Seen as having raised their growth potential due to continued restructuring and the economic policies of Prime Minister Shinzo Abe
- Government Pension Fund of Norway, held about 3.7 trillion yen ($35.9 billion) in Japanese shares at the end of last year, double the level of a year earlier, according to a recent report from Norges Bank, the country’s central bank, which manages the fund. T
- The Norwegian fund also owns 2.4 trillion yen of Japanese government bonds.
- Saudi Arabian Monetary Agency owned about 230 billion yen in Japanese shares at the end of last September, more than double the level six months prior
The Nikkei adds:
- Sovereign wealth funds are often long-term shareholders, owning shares for five to 10 years.
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Old data quoted in the article … wonder if these guys still have ‘em or whether they were playing short-term momentum (tongue in cheek)
