TOKYO -- Japan's Government Pension Investment Fund earned its largest-ever quarterly return by far, with a profit of roughly 10 trillion yen ($89.3 billion) on investments in the October-December period.
The massive return for the world's biggest pension fund came as the value of foreign-currency-denominated assets rose, buoyed by stock rallies and a weaker yen triggered by Donald Trump's U.S. presidential election win. The previous record of 7.6 trillion yen was achieved in January-March 2013, when the Japanese stock market was swept up by optimism for Prime Minister Shinzo Abe's economic policy.
