World's biggest pension fund lost $52 billion in Q2
Japanese government fund hit by stronger yen and falling shares
The world’s biggest pension fund has recorded a $52 billion loss for the last quarteras shares tumbled and the yen surged, wiping out all investment gains since it overhauled its strategy by boosting shares and cutting bonds.
Japan’s Government Pension Investment Fund lost 3.9 per cent, or 5.2 trillion yen ($52 billion), in the three months ended June 30, reducing assets to 129.7 trillion yen, it said in Tokyo this morning. That erases ...