Japan Pension Fund Records World’s Biggest Loss

Japan pension fund records world’s biggest loss
Japan Prime Minister Shinzo Abe

Japan’s public pension fund, the biggest of its kind in the world, said on Friday it lost more than $ 135 billion in a record quarterly loss caused by a global stocks rout.

The Government Pension Investment Fund said its losses in the month of October-December totalled 9.1 per cent, or 14.8 trillion yen ($135.8 billion).

Global shares plunged toward the end of last year, as US politicians moved toward an eventual government shutdown and Washington’s trade war with Beijing intensified, worrying investors

“During the October-December quarter, due to concerns over uncertain global economic and corporate outlook, global investors’ risk aversion heightened and domestic and international stocks fell sharply, ”fund president Norihiro Takahashi said in a statement.

He added, however, that the fund was a long-term investor and makes on average 2.73 -percent profit a year. The Japanese fund is worth more than 150 trillion yen.

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