TOKYO (Reuters) – Japan’s Government Pension Investment Fund (GPIF), the world’s largest pension fund, reported on Friday a record 17.71 trillion yen ($164.74 billion) quarterly loss in January-March after global stock markets plunged due to the COVID-19 pandemic.
GPIF posted a negative return of 10.71% on its overall assets during the three months, compared with a 4.61% gain in the previous quarter, it said in a statement.
The fund, which managed 150.6 trillion yen of assets as of end-March, is closely watched by global financial markets because of its mammoth size.
(Reporting by Takashi Umekawa; Editing by Chang-Ran Kim)
