Aug
28
World’s Biggest Pension Fund Loses $52 Billion in Stock Rout
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Japan’s GPIF wipes out all gains since shift to shares
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Investment losses are no reason to change strategy: Sera
The world’s biggest pension fund posted a $52 billion loss last quarter as stocks tumbled and the yen surged, wiping out all investment gains since it overhauled its strategy by boosting shares and cutting bonds.
Japan’s Government Pension Investment Fund lost 3.9 percent, or 5.2 trillion yen ($52 billion), in the three months ended June 30, reducing assets to 129.7 trillion yen, it said in Tokyo on Friday. That erases a 4.1 trillion yen investing return for the previous six quarters starting October 2014, the month it decided to put half its assets into equities…
World’s Biggest Pension Fund Loses $52 Billion in Stock Rout
