Japan pension fund GPIF warns of global investing losses

Japan pension fund GPIF warns of global investing losses

Mount Fuji and buildings in the Shinjuku district are reflected on a table at an observation deck in Tokyo, Japan. Photographer: Kiyoshi Ota/Bloomberg

Global markets have become so synchronized that money managers risk losing on every front, according to Hiromichi Mizuno, chief investment officer of the world’s largest pension fund.

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