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From: Sally Ismail
Mubasher: The largest pension fund in the world posted quarterly gains for the second consecutive quarter this year, with profits from stocks and foreign bonds, with most major currencies falling against the yen.
The Japanese public pension fund said Friday it posted a return of 0.2% to 256.9 billion yen ($ 2.4 billion) in the quarter ended June 30.
This means that the total badets of the largest pension fund in the world reached 159 200 billion yen at the end of June, the bank said.
The fund indicated that foreign equities were the fund's best-performing fund with returns of 1.3% in the second quarter, followed by foreign and domestic bonds with returns above 0.9% and 0.8%, respectively.
While the Japanese shares of the fund suffered losses of about 2.3% between April and June.
According to the state pension fund, provisions for foreign debt and equities have reached record levels in percentage terms.
Despite the weakness of the US dollar and the euro, badets abroad have allowed the fund to continue recovering record losses of 14.8 trillion yen in the fourth quarter of 2018.
The fund's portfolio includes local bonds representing 26.9% of the fund's total badets, with local stocks accounting for 23.5%, foreign bonds accounting for 18%, foreign stocks 23.4%, and short-term badets, according to the results of the company.
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