Japan Sumitomo Life plans to raise yen bond portfolio in Oct-March

Reuters

TOKYO, Oct 24 (Reuters) - Sumitomo Life Insurance Co plans to increase domestic bond holdings in the sixmonths to March, a senior company official said on Thursday, butadded that it could shift to foreign debt if domestic bondyields stay too low.

Japan's fourth largest private life insurer with totalassets of 26.5 trillion yen ($272.4 billion) has started toremove currency hedging on its foreign bond investments thisfinancial year and plans to keep doing so further, the officialsaid.

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