July 3, 2020 / 6:30 AM / a month ago

Japan's GPIF posts record quarterly loss of $164.7 bln as coronavirus hits stocks

TOKYO, July 3 (Reuters) - Japan’s Government Pension Investment Fund (GPIF), the world’s largest pension fund, reported on Friday a record 17.71 trillion yen ($164.74 billion) quarterly loss in January-March after global stock markets plunged due to the COVID-19 pandemic.

GPIF posted a negative return of 10.71% on its overall assets during the three months, compared with a 4.61% gain in the previous quarter, it said in a statement.

The fund, which managed 150.6 trillion yen of assets as of end-March, is closely watched by global financial markets because of its mammoth size. ($1 = 107.5000 yen) (Reporting by Takashi Umekawa Editing by Chang-Ran Kim)

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