Total assets reached 245.98 trillion yen ($2.07 trillion) as of end-March, the GPIF said in Tokyo on Friday. That compares with Norway’s 17.719 trillion krone ($2.26 trillion) fund.
Japan’s Government Pension Investment Fund was dethroned as the world’s biggest pool of retirement savings as a depreciating yen eroded the value of its assets in dollar terms.
The fund posted a record gain for the three months through March, generating a 9.5% return, but the yen’s slump to a 38-year low against the greenback was deep enough to put the value of its assets below that of Norway’s wealth fund in dollar terms.
