Gpif Posts $22 Bil. Returns In Fy 2018

GPIF posts $22 bil. returns in FY 2018

Japan's Government Pension Investment Fund says it posted investment returns of some 22 billion dollars in the year through March, the third year in a row it has posted profits.

The GPIF announced on Friday that its rate of return in fiscal 2018 was 1.52 percent.

The fund invests in Japanese and foreign bonds and stocks. The only portfolio that ended with negative returns in the fiscal year was domestic stocks.

The total volume of GPIF's investment returns has reached about 610 billion dollars since the fund started investing in financial products in fiscal 2001.

The positive returns came after the fund posted record losses of nearly 140 billion dollars during the period of October through December 2018.

Officials say domestic and overseas stock markets plunged from December to January due to uncertainties over the global economy.

But they say the markets have since calmed and US stocks and others have sharply rebounded, which helped the fund post the positive returns.