UPDATE 1-Japan's public pension fund assets rise to record $1.26 trln

Fri Feb 28, 2014 5:54am EST
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* GPIF portfolio of $1.26 trln, nearly matches Spanish GDP

* GPIF says will investment in infrastructure for first time

* Plans to invest $2.7 bln in 5 yrs in infrastructure

* Will invest jointly with Canada's OMERS, Japan's DBJ

By Chikafumi Hodo

TOKYO, Feb 28 (Reuters) - Japan's public pension fund, the world's largest, reported a 4.73 percent return on investments in the October-December quarter, thanks to gains in Japanese stocks and an increase in the value of its foreign assets due to a weaker yen.

The Government Pension Investment Fund (GPIF) has posted an increase in returns for a record six consecutive quarters, having shown a 2.71 percent increase in the previous quarter.

The public fund announced it has reached an agreement with Canada's Ontario Municipal Employees Retirement System (OMERS) and Development Bank of Japan (DBJ) to invest in infrastructure projects through an investment trust fund.

GPIF plans to invest as much as $2.7 billion over five years, mainly in developed countries infrastructure investments selected by OMERS.   Continued...