Worldвђ™s Largest Pension Fund Lost The Equivalen... 【Tested & Working】

: For funds like the GPIF, a depreciating dollar has historically dragged down the value of overseas securities.

The total decline in fund value reached when accounting for currency movements as the Norwegian krone strengthened. World’s Largest Pension Fund Lost the Equivalen...

Faced another quarterly loss in late 2024, its worst in over four years, due to losses in foreign bonds and foreign/domestic stocks. : For funds like the GPIF, a depreciating

The fund has since recovered significantly, booking a in the October–December 2025 quarter, despite 1.53 trillion yen in losses on domestic bonds. Wider Industry Impact and Trends Broad Market Declines : : For funds like the GPIF

In March 2026, the deficit for major public pension plans increased by in a single month. Shift in Rankings :

Lost approximately (1.9%) in the first quarter of 2026 alone.