Japan public pension fund hit by $26 bln Apr-June investment loss
TOKYO Aug 31 (Reuters) - Japan's public pension fund, the world's largest, suffered an investment loss of $26 billion in April-June, its first loss in three quarters, as the yen's strength and falls in domestic and foreign equities hurt its quarterly performance.
The Government Pension Investment Fund (GPIF), under pressure to raise returns to cope with a rapidly ageing population, is closely watched by global markets given the size of its $1.37 trillion portfolio, which is equivalent to the economy of Australia, the world's 13th-largest.
The GPIF posted a negative return of 1.85 percent in April-June, a sharp reversal from a positive return of 5.11 percent for the previous quarter.
The performance translates into an investment loss of 2.069 trillion yen ($26.34 billion), compared with a gain of 5.48 trillion yen in January-March.
Total assets under management fell to 108.2 trillion yen by the end of June compared with 113.61 trillion yen in March.
- Boeing, SpaceX win contracts to build 'space taxis' for NASA
- Polls show Scottish opponents of independence with slight lead ahead of vote |
- iPhone comes out of a 'bygone era', reviewers hail bigger handset
- Wildfire rips through 150 homes in Northern California
- Fed could hint on rate-hike plans as it prepares for policy turn