Saturday 8 August 2020
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wn.com - 1 month ago

The world’s biggest pension fund reports record loss in first quarter

The world’s biggest pension fund posted a record loss in the first three months of 2020 after the coronavirus pandemic sparked a global market rout in the period. Japan’s Government Pension Investment Fund lost 11 per cent, or 17.7 trillion yen ($164.7 billion/Dh605bn), in the three months ended March, it said in Tokyo on Friday. The decline in value was the steepest based on comparable data back to April 2008, reducing the fund’s total assets to 150.63tn yen. Foreign stocks were the worst performing investment, followed by domestic equities. The results come just months after the fund revamped top management and revised its asset allocation to focus more on overseas debt. The loss, which...


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