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Finance

Japan's pension giant suffers record $166bn quarterly loss: Nomura

Estimate comes as GPIF names Goldman Sachs alum as head of investment

Due to Japan's aging population, the Government Pension Investment Fund has to rely more on investment income to cover future payouts.   © Reuters

TOKYO -- Japan's Government Pension Investment Fund took a 18 trillion yen ($166 billion) loss during the first quarter of the year, an estimate by Nomura Securities shows, pointing to a record in quarterly red ink caused by higher exposure to the coronavirus-rocked equity market.

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