Japan’s GPIF posts $28 billion Q1 investment loss on market turbulence

TOKYO : Japan’s Government Pension Investment Fund (GPIF) reported on Friday an investment loss of 3.75 trillion yen ($28.13 billion) for April-June, the second consecutive quarter of negative returns, as economic slowdown fears hit global stock markets.

The world’s largest pension fund lost 1.91 per cent for the three months, trimming its overall assets to 193.126 trillion yen, it said in a statement.

The loss widened from 1.1 per cent in the previous quarter, which represented the fund’s first quarterly loss in two years.

During the April-June period, the Dow Jones Industrial Average dropped 11 per cent, while Japan’s Nikkei stock average fell 5 per cent.

The GPIF’s foreign stock portfolio posted a loss of 5.36 per cent, while its Japanese stock portfolio had a loss of 3.68 per cent.

Its Japanese bond portfolio posted a loss of 1.31 per cent, while its foreign bond portfolio gained 2.71 per cent.

As of end-June, Japanese bonds accounted for 25.65 per cent of its portfolio and foreign bonds accounted for 25.70 per cent. Foreign equities accounted for 24.12 per cent and domestic equities 24.53 per cent.

($1 = 133.3000 yen)

Leave a Comment