Japan’s public pension reserve fund, the largest of its kind in the world, posted its biggest quarterly loss since the financial crisis for the quarter through September, dragged down by a global stock selloff. The Government Pension Investment Fund lost ¥7.89 trillion ($64.22 billion) in the three months to September, or 5.59%, bringing the value of its total assets to ¥135.1 trillion. That was the largest percentage-point fall on quarter since 2008.
The release gives a view of how pension funds, endowments and sovereign-wealth funds around the world were hit by a global selloff that erased trillions of dollars in value from financial markets amid concerns about growth in China and expectations for an interest-rate increase in the U.S. Norway’s sovereign-wealth fund, the largest in the world, lost 4.9% in the third quarter, its worst quarter in four years...............................................Full Article: Source
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