Japan Pension Fund Reports First Quarterly Loss in Six Quarters

The Government Pension Investment Fund of Japan reported a loss of 1.7 percent for the quarter ending September, marking its first quarterly decline in six quarters. The fund lost 5.253 trillion yen, or approximately 33.3 billion dollars, which reduced its total assets to 314.4 trillion yen.

Global bond price slumps and gains in the yen drove the decline. The fund recorded specific losses of 6.52 percent on foreign bonds, 1.80 percent on domestic debt, and 1.86 percent in overseas equities. These losses offset a positive return of 3.71 percent on Japanese stocks.