Japan’s public pension fund, the biggest of its kind in the world, said on Friday it lost more than $135 billion in a record quarterly loss caused by a global stocks rout. The Government Pension Investment Fund said its losses in the October-December period totalled 9.1 per cent, or 14.8 trillion yen ($135.8 billion). Global shares plunged toward the end of last year, as US politicians moved toward an eventual government shutdown and Washington’s trade war with Beijing intensified, worrying investors. He added, however, that the fund was a long-term investor and makes on average 2.73-percent profit a year. The Japanese fund is worth more than 150 trillion yen.

Source: Punch February 01, 2019 09:22 UTC