World's biggest pension fund reports worst post-crisis results
Japan's GPIF is down 3.8% or 5.3 trillion yen, due mostly to its foray into equities
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Tokyo
THE world's biggest pension fund has posted the worst annual performance since the global financial crisis, with losses exacerbated by unfavourable currency moves and a foray into equities.
Japan's US$1.3 trillion Government Pension Investment Fund (GPIF) lost 3.8 per cent for the year ended March 31, or 5.3 trillion yen (S$69.4 billion), the retirement manager said on Friday in Tokyo. That's the biggest drop since the year ended 2009.
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