Japan's GPIF earns $118b in Q1 returns as stock markets rally

Japan's GPIF earns $118b in Q1 returns as stock markets rally

FILE PHOTO: The sign of Japan's Government Pension Investment Fund (GPIF) is seen after a news conference in Tokyo, Japan, April 1, 2016. REUTERS/Thomas Peter/File Photo

Japan’s Government Pension Investment Fund (GPIF) said on Friday it earned a first-quarter investment return of 12.49 trillion yen ($118.4 billion) as global stock markets rallied, following its record quarterly investment loss in the previous quarter.