World’s largest pension fund posts loss in longest shedding streak in twenty years

Masataka Miyazono, president of the Authorities Pension Funding Fund (GPIF), speaks throughout a information convention in Tokyo, Japan, on Friday, July 1, 2022.

Bloomberg | Bloomberg | Getty Pictures

Japan’s Authorities Pension Funding Fund — the world’s largest — reported a fourth consecutive quarterly loss on Friday, taking it to its longest shedding streak in 20 years.

The world’s largest pension fund noticed a 0.97% loss on its investments within the final three months of 2022, equating to 1.85 trillion yen ($14.3 billion).

The string of quarterly losses marks the pension fund’s longest stint within the purple because it reported 4 quarters of falls for the fiscal 12 months 2003.

The GPIF mentioned Friday that its largest loss was by way of its overseas bond holdings, which fell 5.3%, whereas home bonds investments have been down 1.7%. It managed to realize 3.2% on its home shares portfolio, though its investments in overseas shares fell barely.

It takes GPIF’s losses for the primary three quarters of the fiscal 12 months to three.71%, or 7.32 trillion yen. It reported a 5.42% revenue equating to 10 trillion yen within the 2021 fiscal 12 months. Its whole belongings now whole 189.9 trillion yen.

GPIF’s loss over the primary three months of 2022 was its first damaging quarter for 2 years, because it struggled with the beginning of U.S. rate of interest rises, fairness market volatility and a few Russia-linked belongings.

In the newest quarter, a pointy drop within the worth of the U.S. greenback in opposition to the yen weighed on the worth of the fund’s overseas belongings.

U.S. greenback in opposition to the Japanese yen

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