GPIF extends losing streak in fiscal Q3
While domestic stocks provided a ray of light, the US dollar’s slide versus the yen in late 2022 hit the value of foreign assets, newly released data from the Japanese state pension fund shows.
Japan’s Government Pension Investment Fund (GPIF), the world’s largest, posted another quarterly loss, marking four losing quarters - its longest losing streak in two decades.
Yet the state pension fund only lost close to 1% (0.97%) during the quarter that ended December 31 2022, the third quarter of its fiscal year that ends in March, GPIF announced on February 3.
The ¥1.85 trillion ($14.4 billion) loss reduced its total assets to ¥189.9 trillion.
The latest string of losses …
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