Latest victim of 2018's stock rout is Japan's Government Pension Fund

More than $10 trillion in equity value was wiped out from the global markets last quarter as an ongoing trade spat between the US and China raised concern over a slowdown in growth

The world’s largest pension fund may have incurred a record loss after a global equity rout last quarter pummeled an asset class that made up about half of its investments.

Total assets at Japan’s Government Pension Investment Fund may have dropped to 155.6 trillion yen ($1.43 trillion) as of the end of December, according to calculations by Yohei Iwao, executive director of the institutional equities division at Morgan Stanley MUFG Securities Co. in Tokyo. That would be a record decline of about 14 trillion yen from the end of September. Results are due at 3:30 p.m. in Tokyo on Friday.

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