The Government Pension Investment Fund, the world's largest, on Friday confirmed it lost a staggering ¥5.3 trillion in fiscal 2015 as the decline in global markets spelled bad news for its controversial shift from Japanese government bonds to equities.
GPIF said its rate of return was minus 3.81 percent for the year ended March 31.
The report came amid public criticism that a change in GPIF's investment policy in 2014 that increased its equity holdings has increased the risk at the public pension fund.