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InvestmentsSumitomo Life plans to boost foreign bond investment without FX hedge, sees...

Sumitomo Life plans to boost foreign bond investment without FX hedge, sees limited yen gain risk By Reuters


© Reuters.

TOKYO (Reuters) -Sumitomo Life Insurance plans to step up investment in foreign bonds without forex hedge within the six months to March because it sees limited risk of a stronger yen, a high investment planning official mentioned on Tuesday.

Japan’s fourth-largest insurer additionally plans to enhance holdings of home bonds in addition to foreign shares and bond funds, Toshio Fujimura, normal supervisor of investment planning, advised reporters.

Following is a abstract of Sumitomo Life’s investment plan for the half yr to March.

— Plan to enhance holdings of foreign bonds without forex hedge by a number of hundred billion yen. It invests in U.S. and Asian markets.

— Plan to cut back foreign bond investment with forex hedge by about 100 billion yen ($0.88 billion) whereas persevering with to give attention to credit score merchandise.

— Plan to enhance foreign shares and funds, together with bond funds and various belongings, presumably by a number of hundred billion yen. In the final half yr, the agency has elevated holdings in these belongings by 250 billion yen.

— Expect U.S. inflationary stress to progressively subside in 2022, permitting the Federal Reserve to maintain off elevating rates of interest till 2023.

— Plan to enhance yen bond holdings by about 100 billion yen, shopping for super-long Japanese authorities bonds.

($1 = 113.70 yen)

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