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World's largest pension fund posts record quarterly loss

Japan's GPIF pays price for exposure to equities amid global stock slump

Japan's Government Pension Investment Fund had nearly $1.4 trillion in assets at the end of 2018. (Photo by Maho Obata)

TOKYO -- Japan's Government Pension Investment Fund reported Friday a negative investment return of more than 14.8 trillion yen ($135 billion) for the October-December period, its biggest quarterly loss since it started putting pension money into the market in fiscal 2001.

Falling share prices around the world took a toll amid such uncertainties as the Sino-American trade war and political developments in Europe. The GPIF's cumulative returns of 56.7 trillion yen enable it to keep the pension system running despite the heavy loss.

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