Japan's Mitsui Sumitomo Insurance plans to invest a total of about ¥80bn ($720m) in domestic assets such as corporate bonds and 20-year and 30-year government bonds through March 2017, Hiroaki Hara, manager of investment planning, told Reuters in an interview.
The group, which has assets of assets of ¥6.9trn, stopped investing in 10-year Japanese government bonds and shifted to other interest-bearing assets after the Bank of Japan introduced negative interest rates in January.
Mitsui Sumitomo also plans to invest about ¥50bn in foreign risk assets, as it did last fiscal year, according to the newswire. Half of that may go to alternative assets such as private equity investment in the US and Europe, and the other in foreign bonds which will not be hedged against currency risk.
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