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The world¡¯s biggest pension fund posted its worst quarterly loss since at least 2008 after a global stock rout in August and September wiped $64 billion off the Japanese asset manager¡¯s investments.

The 135.1 trillion yen ($1.1 trillion) Government Pension Investment Fund lost 5.6 percent last quarter as the value of its holdings declined by 7.9 trillion yen, according to documents released Monday in Tokyo. That¡¯s the biggest percentage drop in comparable data starting from April 2008. The fund lost 8 trillion yen on its domestic and foreign equities and 241 billion yen on overseas debt, while Japanese bonds handed GPIF a 302 billion yen gain.

The loss was GPIF¡¯s first since doubling its allocation to stocks and reducing debt last October, and highlights the risk of sharp short-term losses that come with the fund¡¯s more aggressive investment style. Fund executives have argued that holding more shares and foreign assets is a better approach as Prime Minister Shinzo Abe seeks to spur inflation that would erode the purchasing power of bonds.

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http://www.msn.com/en-us/money/markets/w...ocid=spartanntp

Can't really find a great deal of information about the GPIF but there is this:

"Government Pension Investment Fund (Äê½ð·eÁ¢½ð¹ÜÀíß\ÓöÀÁ¢ÐÐÕþ·¨ÈË Nenkin Tsumitate-kin Kanri Un'y¨­ Dokuritsu-gy¨­sei-H¨­jin?), or GPIF, is an incorporated administrative agency (an independent administrative institution), established by the Japanese government. It is the largest pool of retirement savings in the world."

https://en.wikipedia.org/wiki/Government...Investment_Fund

$64 billion does appear to be a nice piece of change. I wonder what the consequences will be for the Japanese economy and government.