Masataka Miyazono, president of the Govt Pension Funding Fund (GPIF), speaks throughout a information convention in Tokyo, Japan, on Friday, July 1, 2022.
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Japan’s Govt Pension Funding Fund — the arena’s greatest — reported a fourth consecutive quarterly loss on Friday, taking it to its longest shedding streak in two decades.
The arena’s greatest pension fund noticed a nil.97% loss on its investments within the final 3 months of 2022, equating to at least one.85 trillion yen ($14.3 billion).
The string of quarterly losses marks the pension fund’s longest stint within the pink because it reported 4 quarters of falls for the fiscal yr 2003.
The GPIF stated Friday that its greatest loss used to be by way of its overseas bond holdings, which fell 5.3%, whilst home bonds investments had been down 1.7%. It controlled to realize 3.2% on its home shares portfolio, despite the fact that its investments in overseas shares fell quite.
It takes GPIF’s losses for the primary 3 quarters of the fiscal yr to three.71%, or 7.32 trillion yen. It reported a 5.42% benefit equating to ten trillion yen within the 2021 fiscal yr. Its overall belongings now overall 189.9 trillion yen.
GPIF’s loss over the primary 3 months of 2022 used to be its first adverse quarter for 2 years, because it struggled with the beginning of U.S. rate of interest rises, fairness marketplace volatility and a few Russia-linked belongings.
In the newest quarter, a pointy drop within the price of the U.S. greenback in opposition to the yen weighed at the price of the fund’s overseas belongings.
U.S. greenback in opposition to the Jap yen
