JAPAN - Japanese corporate pension funds lost an average of 17.1% in the year ended March 31, the worst losses in over a decade, according to data by Watson Wyatt.
The yen traded at 100 yen to the dollar in March, up from about 90 yen to the dollar in January. Ogai said the drop in value boosted the value of the pension funds' overseas investments.
The average pension fund invested 13% in international equity and 15% in international bonds. The schemes also invested 20% in domestic equity, 43% in domestic bonds and the remainder in alternative.
Watson Wyatt surveyed 120 schemes with a combined JPY10trl (US$100bn) in assets.
In the year ending 31 March 2007, the average pension fund returned -9.6% while the previous year, investments were up 4.4%.
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