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Government Pension Investment Fund posts record quarterly loss of ¥17.71 tril

19 Comments
By Takashi Umekawa

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19 Comments
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The money fund managers should have allocated precious metals a greater share!

0 ( +3 / -3 )

A negative return of 11% for Jan-March is actually pretty good.

The story should include the figures for the whole fiscal year, as March 31 marks the end of it.

-3 ( +1 / -4 )

Japan's Government Pension Investment Fund (GPIF), the world's largest pension fund,

It’s the world’s largest rip-off!

I can’t understand how such a large fund has not been invested for a profitable return. My Mrs has paid over 60 grand into this scam and her benefit entitlement is only 12 grand. It’s nothing but a poorly managed pyramid scheme/scam. Just for comparison, Australia has a national superannuation fund that everybody pays 5% of their salary into. The return at retirement is +15%. Japan’s is -80%. It’s a blatant mandatory rip off!!

8 ( +9 / -1 )

My Mrs has paid over 60 grand into this scam and her benefit entitlement is only 12 grand.

Your numbers are hard to figure out. 60,000 yen? Anyway, I will have paid about 8 mil. yen total by age 65, after which I'll get around 1 million a year. If I live til 85 (I'm 100% healthy) , I'll get about 20 million yen. So pay 8 mil to get 20 mil -- not bad for a state system (that pays you til the day you die).

-2 ( +4 / -6 )

I've got gold, a volatility fund, and an inverse fund that have made money, plus the US market has not been hit nearly as badly as it should have. China was up dramatically for the quarter. Who is managing the fund, and what are they investing in? A fund that large should be making markets, not following them down.

4 ( +4 / -0 )

JeffLee - Your numbers are hard to figure out. 60,000 yen? Anyway, I will have paid about 8 mil. yen total by age 65, after which I'll get around 1 million a year. If I live til 85 (I'm 100% healthy) , I'll get about 20 million yen. So pay 8 mil to get 20 mil -- not bad for a state system (that pays you til the day you die).

60 grand = ¥60 million. Your figures don’t add up! You really need to get your facts straight on that. You will not get back what you have paid. You will fat around 20% only.

-1 ( +1 / -2 )

Pension funds always had a negative return anyway.

-1 ( +1 / -2 )

@do the hustle

Your figures don’t add up! 

Of course they don't "add up." They're a projection of future income versus contributions, and the figures are based on numbers published in my latest account statement.

You will fat around 20% only.

On what basis do you make that claim?

60 grand = ¥60 million

"grand" means "a thousand" not a million. Talk about "not adding up."

1 ( +5 / -4 )

Ok, this definitely needs a clarification.

Largest pension fund posts a DECREASE in VALUE? Or have they actually realized a LOSS by selling their assets at a reduced price?

Most likely they simply mirrored the market and had a decrease in value, so when the market goes back up the value will go back up. Simple. Nothing has been lost.

The way this is written is sensationalizing and misrepresenting reality. Typical irresponsible editorial behavior.

Shame to be misleading people by not being totally clear.

2 ( +3 / -1 )

"grand" means "a thousand" not a million. Talk about "not adding up."

Oops! I bet he wish it did mean a thousand!

0 ( +0 / -0 )

Damn, been in Japan for 20 years and have been playing in for 20 years. I was lucky as my first job included the pension plus insurance. I have recently moved to Tokyo & having to transport 20 years worth of receipts is a hassle

I do wonder how much I have lost and as an Aussie, if I go home - my pension is transferable but not so much money.

Does anyone have any ideas ??

0 ( +0 / -0 )

Does anyone have any ideas ??

A lot less than you paid in. Probably keep going until the pension is paid into your bank and then visit Aussie.

Not sure why you have kept 20 years of receipts. We never did.

0 ( +0 / -0 )

having to transport 20 years worth of receipts is a hassle

Set up an online account, which gives you a ton of data on your pension payment progress and projected pension income. And then, shred and throw away your paper receipts. If you want a hard copy record, print out your account statement once in a while. Also, the pension office sends you a postcard once a year recording your contributions to date.

-2 ( +2 / -4 )

Interesting to see the comments from people with very little idea about financial markets. Guarantee that most of these losses will have been made back in the April-June quarter. Makes for a good headline though I suppose!

2 ( +3 / -1 )

When the J-govt won't be able to service back their debt like Argentina, Japanese elders will be in the world of pain. They already are but this time it will be much worse.

5 ( +7 / -2 )

What goes down also goes up.

If it’s not a crystallised loss, ignore it. The overall decision making and investment policy may need a review.

This sort of article gets written all the time in most countries. It’s indicative of either economic ignorance on the part of the author or click bait.

2 ( +2 / -0 )

Time to buy.

2 ( +2 / -0 )

Wow, four people disliked (and only one liked) my recommendation to put one's pension account online to do away with the need of collecting paper records. Get a life, people.

When the J-govt won't be able to service back their debt like Argentina..., 

Japan isn't "like Argentina." That country defaulted on its dollar debt. Japan's debt is in its own currency. Can you explain how Japan would run out of a currency it has the sole authority to issue?

3 ( +3 / -0 )

Don't care so much with these short term reports, just as long as there's a reasonable Pension for me to live off when I retire...

0 ( +0 / -0 )

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