Business | Aug 06

Japan's GPIF posts $28 billion Q1 investment loss on market turbulence

Aug 06 (MSN) - Japan's Government Pension Investment Fund (GPIF) reported on Friday an investment loss of 3.75 trillion yen ($28.13 billion) for April-June, the second consecutive quarter of negative returns, as economic slowdown fears hit global stock markets.

The world's largest pension fund lost 1.91% for the three months, trimming its overall assets to 193.126 trillion yen, it said in a statement.

The loss widened from 1.1% in the previous quarter, which represented the fund's first quarterly loss in two years.

During the April-June period, the Dow Jones Industrial Average dropped 11%, while Japan's Nikkei stock average fell 5%. ...continue reading

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