Lessons GPIF can learn from its $136b record loss

Suffering an investment loss greater than the GDP of Ukraine within three months would be enough to get most investment teams fired. Pity, then, the Government Pension Investment Fund (GPIF) official tasked with informing Japan’s Ministry of Health, Labour and Welfare that the pension fund giant had recorded a $136 billion loss in the final three months of 2018. The pension fund was clobbered by a combination of factors, including concerns over both the US and Chinese economies.…