Japan's Government Pension Investment Fund (GPIF) reported on Friday an investment loss of 3.75 trillion yen ($28.13 billion) for April-June, the second consecutive quarter of negative returns, as economic slowdown fears hit global stock markets.
The world's largest pension fund lost 1.91% for the three months, trimming its overall assets to 193.126 trillion yen, it said in a statement.
The loss widened from 1.1% in the previous quarter, which represented the fund's first quarterly loss in two years.
During the April-June period, the Dow Jones Industrial Average (.DJI) dropped 11%, while Japan's Nikkei stock average (.N225) fell 5%.
The GPIF's foreign stock portfolio posted a loss of 5.36%, while its Japanese stock portfolio had a loss of 3.68%.
Its Japanese bond portfolio posted a loss of 1.31%, while its foreign bond portfolio gained 2.71%.
As of end-June, Japanese bonds accounted for 25.65% of its portfolio and foreign bonds accounted for 25.70%. Foreign equities accounted for 24.12% and domestic equities 24.53%.
