Why Japanese monks are turning to stocks, bonds
In a small town in Hokkaido, a fifth-generation Buddhist priest named Koukyo Yoneta is using financial markets to help maintain his century-old temple. Rather than wait for his congregation to donate money they may not have, Yoneta invested what they had already given. Over two years, his portfolio including US Treasuries, Japanese real estate investment trusts and stocks returned over 10% annually, aiding in covering repair costs of about ¥25 million ($162,000).
This approach has been adopted by a growing number of temple owners as costs of upkeep rise and the Buddhist population dwindles.
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