Japan’s Government Pension Investment Fund (GPIF) witnessed a $33 billion decline in its assets in the second quarter, Global Pensions reports. The public pension fund saw assets under management drop 2.2 percent to $1.48 trillion over the quarter.
GPIF’s rate of return on investments fell to 0.21 percent over the three months, owing to a fall in global equity prices and a strong yen. The fund’s investments in Japanese equities led to a negative return of 2.06 percent, while foreign equities produced a negative return of 1.81 percent.
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