Japan’s GPIF Loses Status as World’s Biggest Pension Fund
- Domestic equities are the fund’s best performing investment
- Weakening yen lowers GPIF’s asset size in dollar terms
Japan’s Government Pension Investment Fund was dethroned as the world’s biggest pool of retirement savings as a depreciating yen eroded the value of its assets in dollar terms.
The fund posted a record gain for the three months through March, generating a 9.5% return, but the yen’s slump to a 38-year low against the greenback was deep enough to put the value of its assets below that of Norway’s wealth fund in dollar terms.