Japan's Chief Cabinet Secretary, Yoshimasa Hayashi, stated that the Government Pension Investment Fund (GPIF) routinely conducts appropriate evaluations of its investment portfolio.

Regarding the policy asset mix, I understand that GPIF performs suitable risk management each fiscal year based on market trends and conducts timely and proper reviews to assess whether there is a significant possibility of change in the investment environment assumed when formulating policy, Hayashi said at a press conference on Monday. Adjustments are made if deemed necessary.

The GPIF is one of the world's largest pension funds, with assets totaling 293.6 trillion yen ($1.81 trillion). It adjusts its asset allocation parameters once every five years.

The fund has also reduced the maximum deviation from its target values from 6-8 percentage points to 5-6 percentage points, depending on the volatility of each asset class.