Japan's public pension fund, the world's largest, posted a $7.6 billion investment profit in October-December helped by good returns on foreign equities after suffering its worst performance in three years in the previous quarter.
The Government Pension Investment Fund (GPIF), whose portfolio is nearly as big as Spain's economy, said its rate of return improved to positive 0.58 percent, or a profit of 618.7 billion yen.
The fund, which needs to raise returns to help cover pensions for a rapidly ageing population, had total assets of 108.1 trillion yen ($1.33 trillion) at the end of December. (Reuters)
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