World’s biggest pension fund loses $64B amid equity rout

A global stock rout in August and September contributed to the world’s biggest pension fund’s worst quarterly loss since 2008, according to Bloomberg Business.

The $1.1 trillion Government Pension Investment Fund lost 5.6 percent in the third quarter when the value of the Japanese asset manager’s investments fell by 7.9 trillion yen, or $64 billion.

A GPIF official said despite recent losses, the fund’s general trend is up since GPIF started stock investments 14 years ago. Quarterly investment returns reached as high as 5 percent at the close of 2014.

As of Sept. 30, GPIF had 39 percent of its assets in debt and 21 percent in equities, compared to 38 percent and 23 percent in the second quarter this year.

Read more from Bloomberg Business.