Japan's Government Pension Investment Fund posted a loss of 1.7% in the three months through September, its first quarterly loss in six quarters. The $1.6 trillion fund was hit by a slump in global bond prices and gains in the yen. The loss marks a significant downturn for the world's largest pension fund, which had avoided quarterly losses since late 2022.
Global bond price declines contributed to the negative performance, while the yen's appreciation against other currencies further pressured returns. The fund's bond portfolio was particularly affected by the broader market sell-off in fixed income markets.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing