October 17, 2019 / 7:03 AM / a month ago

Japan's Taiju Life to shift to domestic bonds from FX-hedged foreign bonds

TOKYO, Oct 17 (Reuters) - Japan’s Taiju Life Insurance plans to reduce its holdings of currency-hedged foreign bonds in the six months to March while increasing those of domestic bonds, the company’s investment planning official said on Thursday.

The insurer is likely to increase its holdings of foreign bonds without currency hedging, which it buys to have matching assets for its foreign currency products, by about 110 billion yen ($1 billion) during the period, said Yoshiki Nakamura, head of investment planning at the firm. ($1 = 108.7400 yen) (Reporting by Hideyuki Sano; Editing by Chris Gallagher)

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