TOKYO (AFP) – Japan’s public pension fund, the biggest of its kind in the world, said yesterday it lost more than USD135 billion in a record quarterly loss caused by a global stocks rout.
The Government Pension Investment Fund said its losses in the October-December 2018 period totalled 9.1 per cent, or 14.8 trillion yen (USD135.8 billion).
Global shares plunged toward the end of last year, as United States (US) politicians moved toward an eventual government shutdown and Washington’s trade war with Beijing intensified, worrying investors.
“During the October-December quarter, due to concerns over uncertain global economic and corporate outlook, global investors’ risk aversion heightened and domestic and international stocks fell sharply,” fund President Norihiro Takahashi said in a statement. He added, however, that the fund was a long-term investor and makes on average 2.73 per cent profit a year.