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The Government Pension Investment Fund said Friday that it posted record quarterly investment returns of ¥12.487 trillion in the April-June quarter.

The result followed an investment loss of over ¥17 trillion for January-March, marking the fund’s biggest quarterly loss.

The recovery came as stock prices in and outside Japan improved significantly after being decked by the coronavirus pandemic.

The fund’s yield hit a record high of 8.30 percent, with total assets under GPIF’s management standing at roughly ¥162.1 trillion at the end of June.

Cumulative returns since the GPIF started investing in financial market instruments in fiscal 2001 have stayed high at about ¥70.025 trillion.

GPIF made its biggest returns off foreign stocks (¥7.514 trillion), Japanese equities (¥3.969 trillion) and foreign bonds (¥1.136 trillion).

The massive fund, however, incurred a loss of ¥137.1 billion on Japanese bonds.

The latest figure for quarterly returns broke the previous record of ¥10.497 trillion marked in the October-December quarter of 2016, when expectations for fiscal policy by then U.S. President-elect Donald Trump boosted stock prices globally.

“We will thoroughly fulfill our duty to gather adequate funds for pension financing,” GPIF President Masataka Miyazono said.

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