Japan GPIF pension fund rebounds with $6.5 bln investment gain
TOKYO Nov 30 (Reuters) - Japan's public pension fund, the world's largest, logged an investment gain of $6.5 billion in July-September, rebounding from a loss in the previous quarter, with a rise in foreign equities helping lift its overall performance.
Fund managers and market dealers around the world closely watch the performance of the Government Pension Investment Fund, known as GPIF, due to the size of its portfolio, which is equivalent to the economy of Australia.
GPIF posted a positive rate of return of 0.49 percent in July-September, a reversal from a negative return of 1.85 percent for the previous quarter.
The performance translates into an investment gain of 528.7 billion yen ($6.5 billion), compared with a fall of 2.069 trillion yen in April-June.
The public fund's total assets fell to 107.7 trillion yen ($1.32 trillion) by the end of September compared with 108.2 trillion yen in June.