Japan Pension Fund Loses Record 17.7 T. Yen in Jan.-March

Politics Lifestyle

Tokyo, July 3 (Jiji Press)--Japan's Government Pension Investment Fund said Friday that it incurred a record quarterly investment loss of 17,707.2 billion yen in January-March.

The first loss in five quarters chiefly reflected stock price plunges due to the fallout from the new coronavirus outbreak.

Of the quarterly loss, 10,223.1 billion yen stemmed from foreign stock investment, and 7,418.5 billion yen from domestic stock investment. Domestic bond investment also resulted in a loss, while foreign bond investment produced a profit.

As a result, the GPIF suffered an investment loss of 8,283.1 billion yen in fiscal 2019, which ended in March, yielding minus 5.2 pct.

It was the second-biggest annual loss, after 9,348.1 billion yen in fiscal 2008, when the collapse of U.S. investment bank Lehman Brothers triggered a global financial crisis.

[Copyright The Jiji Press, Ltd.]

Jiji Press