World's Biggest Pension Fund Loses $64 Billion Amid Equity Rout
- GPIF lost 8 trillion yen on Japanese, foreign stock holdings
- Fund posts worst return in comparable data starting 2008
World's Biggest Pension Fund Posts $64B 2Q Loss
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The world’s biggest pension fund posted its worst quarterly loss since at least 2008 after a global stock rout in August and September wiped $64 billion off the Japanese asset manager’s investments.
The 135.1 trillion yen ($1.1 trillion) Government Pension Investment Fund lost 5.6 percent last quarter as the value of its holdings declined by 7.9 trillion yen, according to documents released Monday in Tokyo. That’s the biggest percentage drop in comparable data starting from April 2008. The fund lost 8 trillion yen on its domestic and foreign equities and 241 billion yen on overseas debt, while Japanese bonds handed GPIF a 302 billion yen gain.