GPIF’s more modest Q1 seen as a welcome return to normality

Japan’s Government Pension Investment Fund recent first quarter results are being seen by analysts as a welcome return to normality - one year after a stellar performance - and a chance to see more clearly whether the fund's long-term strategies are paying off. GPIF posted a 2.68% quarterly return from April to June, lower than the average 5.8% quarterly return in the last financial year ended March, dragged down by losses in the domestic equity market. Prior to this, GPIF poste…