World’s Top Pension Fund GPIF Posts Longest Loss in 20 Years
- Dollar’s steep slide versus yen hits value of foreign assets
- Domestic stocks are the fund’s best-performing investment
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Japan’s state pension fund, the world’s largest, posted a fourth straight quarterly loss in its longest losing streak in two decades.
The Government Pension Investment Fund lost 1% during the quarter ended December, or 1.85 trillion yen ($14 billion), reducing its total assets to 189.9 trillion yen, the fund said in Tokyo Friday. Its Japanese stocks holdings rose 3.2% during the period and domestic debt lost 1.7%. The foreign equities portfolio was down 0.05%, while overseas bonds fell 5.3%.