World’s Largest Pension Lost $50 Billion in FY 15-16: Report

Japan’s Government Pension Investment Fund is expected to announce about $50 billion in investment losses from the fiscal year ended March 31, 2016, according to a report from CNBC.

With $1.4 trillion in assets, GPIF is the world’s largest pension fund.

The loss comes as GPIF shifts to a more aggressive investment strategy, which includes higher allocations to domestic equities.

More from CNBC:

Portfolio losses for the Government Pension Investment Fund for the 12 months through March were between 5 trillion and 5.5 trillion yen, the person told Reuters on Friday, speaking on condition of anonymity as the results are not public.

The $1.4 trillion GPIF has taken a more aggressive investment stance in recent years, shifting towards stocks and away from low-yielding Japanese government bonds, in line with Prime Minister Shinzo Abe’s push to deploy more of Japan’s huge financial assets in riskier investments and boost economic activity.

The Nikkei stock average fell 13 percent last fiscal year.

The GPIF plans to announce the fiscal-year results on July 29, the source said. That is later than the usual early-month timing – and after a July 10 national election.

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