The civil service pension fund earned NT$75 billion in 2009, representing an annual yield of 19.16 percent, Civil Service Minister Chang Che-shen said Wednesday. According to Ministry of Civil Service statistics, the fund lost NT$86.1 billion in 2008 due to the global economic downturn, which translated into a negative return of 22.3 percent. However, with the rebound of the economy and a proper investment strategy, the returns have turned from negative to positive, said Tsai Fong-chin, vice chairman of the fund management committee. 'Looking ahead, the fund will duly adjust its investment portfolio,' Chang said. Chang said the strategy will be to adjust the ratio of investment in capital assets and fixed income commodities. Institutional investors and experts have suggested that the current investment strategy should give preference to stocks instead of bonds, and have warned that there is a possibility of inflation in 2010 because the U.S. and Europe have adopted a looser monetary policy since 2008. The fund will also increase its investment in anti-inflation stocks in a bid to raise its returns, Chang added. 