日本政府养老投资基金（GPIF）第一季度投资回报率为4.09%，而去年第四季度为亏损3.41%。

Core Insights - The Government Pension Investment Fund (GPIF) of Japan reported a first-quarter investment return of 4.09%, recovering from a loss of 3.41% in the previous fourth quarter [1] Group 1 - GPIF's investment return for the first quarter indicates a positive performance compared to the previous quarter's loss [1] - The shift from a negative return to a positive return highlights a potential recovery in the investment landscape for GPIF [1]