Japanese Prime Minister Sanae Takaichi said on Friday the government will pursue steps that encourage investment ​in domestic financial assets by households and ‌state pension funds including Government Pension Investment Fund (GPIF).

Under law, investments by state pension funds must be conducted exclusively for the benefit of those insured and, from a long-term perspective, ‌take ​into consideration their impact on ⁠markets and other private-sector ⁠activities, she said.

“At the same time, as Japan transitions toward a new growth-oriented economy, the return of a world with positive interest rates has ​arrived,” Takaichi told parliament.

“With stock markets also performing steadily, we should pursue measures that encourage households ⁠and pension funds, including ⁠GPIF, to make further investments in Japanese ​financial assets so that the public can enjoy the ​benefits of Japan’s economic growth,” she said.

GPIF is ‌the world’s largest pension fund, which managed 293.6 trillion yen ($1.81 trillion) in assets at the end of March. Any significant shift in its strategy ⁠could ripple through global markets.

“Under its asset management guidelines, GPIF has steadily accumulated domestic investment through alternative investment, and ⁠contributed Japan’s ‌economic growth,” Takaichi said.

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