GPIF said it wont buy yuan denominated sovereign.
A big deal of course because people care about what the largest pension in the world buys. It has 1.75trn asset under management and gains in one quarter was USD45bn so what GPIF buys/don't buy matters.
Note that GPIF hasn't invested in China sovereigns but the fact that the largest sovereign fund (who invests in sovereigns) isn't including yuan denominated sovereign means fear that China'd hoover liquidity is less so, positive for emerging Asia excluding China sovereigns.
Key pts:
FTSE Russel included Chinese govies in WTSE World Government Bond Index (WGBI) & the move phased out over 3 yrs.
GPIF, largest pension fund, uses the index. GPIF decided to stop adding Chinese govies.
GPIF sets the tone for Japanese investors.
asia.nikkei.com
FTSE Russel included Chinese govies in WTSE World Government Bond Index (WGBI) & the move phased out over 3 yrs.
GPIF, largest pension fund, uses the index. GPIF decided to stop adding Chinese govies.
GPIF sets the tone for Japanese investors.
asia.nikkei.com
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