Japan’s GPIF Posts Largest Loss Since 4Q2008

Japan’s Government Pension Investment Fund (GPIF) had a rate of return of -3.32% from July to September, posting a 3.7326 trillion yen investment loss.  The worst performing asset class was international stocks which carried a -21.36% rate of return; follow by domestic stocks at -9.75%. The huge loss stems from mostly a major decline in overseas and domestic equity share prices.

Japan’s largest public pension has total assets remaining at 108.854 trillion yen. Just as sovereign wealth funds and other long-term governmental investors increase their allocations to equities, the scale of loss is expected to make Japanese institutional investors more cautious about taking risks.

Investment Period Rate of Return
1Q 2010 -2.94%
2Q 2010 1.53%
3Q 2010 0.62%
4Q 2010 0.69%
2010 -0.25%
1Q 2011 0.21%
2Q 2011 -3.32%

Source: Government Pension Investment Fund, Japan
Total investments = (market investments + FILP bonds)

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