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The Government Pension Investment Fund posted a loss of ¥9.67 trillion on its investment of pension fund reserves in fiscal 2008, the largest loss since fiscal 2001, due to a plunge in stock prices and a strong yen amid the financial crisis.

The figure marked the second straight year of red ink after the pension fund reported a loss of ¥5.65 trillion for fiscal 2007, data from the independent administrative agency showed. The fund embarked on full-fledged investment in financial markets in fiscal 2001.

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