STOCKS | JPMorgan Asset Management Survey Shows Japanese Pension Funds Favor Domestic Bonds Most Since 2008

A JPMorgan Asset Management survey showed that the share of Japanese pension funds planning to increase domestic bond allocations exceeded those planning to cut them by the widest margin in nearly two decades. According to Sina Finance, the April-June survey of 82 pension funds found that 9.8% planned to increase Japanese bond allocations, while 1.2% planned to reduce them, the largest gap since the survey began in 2008. About 62% of respondents said they were considering changing the way they manage domestic bond investments. Funds are also continuing to reduce overseas bond allocations because hedging costs remain high.