Japan's GPIF posts record quarterly loss of $164.7b as COVID-19 hits stocks

FILE PHOTO: The sign of Japan's Government Pension Investment Fund (GPIF) is seen after a news conference in Tokyo, Japan, April 1, 2016. REUTERS/Thomas Peter/File Photo

Japan’s Government Pension Investment Fund (GPIF), the world’s largest pension fund, on Friday reported a record quarterly loss of 17.71 trillion yen ($164.74 billion) in January-March after global stock markets plunged during the COVID-19 pandemic.

GPIF posted a negative return of 10.71% on its overall assets during the three months, compared with a 4.61% gain in the previous quarter, it said in a statement.

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