April 22, 2019 / 9:02 AM / a month ago

Nippon Life plans to increase foreign bonds without FX hedge in 2019/20

TOKYO, April 22 (Reuters) - Nippon Life Insurance Co plans to increase its holdings of foreign bonds without currency hedge while reducing those with currency hedge in the year through March 2020, senior company officials said on Monday.

Nippon Life expects to have about 1.6 trillion yen ($14.3 billion) of new funds to put to work in the current financial year and it will also invest in domestic bonds and their equivalents, stocks and alternative assets, they added. ($1 = 111.90 yen) (Reporting By Tomo Uetake and Hideyuki Sano; Editing by Shounak Dasgupta)

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