Business | Feb 04

World's largest pension fund posts fourth straight quarterly loss

TOKYO, Feb 04 (UPI) - Japan's massive public pension fund continued its longest ever losing streak, reporting on Friday a $14.2 billion loss for the third quarter, its fourth straight quarter of negative returns.

The Government Pension Investment Fund, the world's largest pool of retirement savings and the largest public investor in Japan, blamed the performance on the strength of the dollar against the yen which pushed down the book value of its investments abroad.

Its investments results update shows a -1% return for the quarter, $1 billion more than it lost in the second quarter, as the value of its investments plummeted amid its longest losing streak since 2003 when it reported four consecutive quarterly falls. ...continue reading

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