Japan’s GPIF Encounters First Loss in Five Years
Japan’s Government Pension Investment Fund (GPIF), the largest public pension investor in the world, posted a negative return for its latest fiscal year ended March 31, 2016. The fund lost 5.3 trillion JPY (US$ 51.3 billion) for the year, generating a -3.81% return. GPIF joins a cadre of mega public institutional investors that have earned negative or lackluster returns for this year, including the California Public Employees’ Retirement System (CalPERS), California State Teachers’ Retirement System (CalSTRS), Abu Dhabi Investment Authority (ADIA) and the China Investment Corporation (CIC).
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