GPIF Sees $61 Billion Loss as Weak Dollar Hits Assets Abroad

Japan’s Government Pension Investment Fund suffered a quarterly loss as a depreciating dollar dragged down the value of its overseas securities and domestic assets slumped.

GPIF, one of the world’s largest state pension funds, lost ¥8.815 trillion ($61.1 billion), or 3.4%, in the January-March period, with assets totaling ¥249.8 trillion, it said in Tokyo Friday. On an annual basis, the fund had a 0.7% return.