Friday, November 24, 2017

Mitsui Sumitomo to invest more in foreign bonds, ETFs

Japan’s Mitsui Sumitomo will invest more in foreign corporate bonds and foreign exchange-traded funds during the second half of the year, according to Tomonori Mano, manager of the firm’s investment planning department.

The company intends to increase investment in higher-risk assets such as foreign stocks and debt by as much as ¥30 billion (US$268.36 million).

That raises to around ¥100 billion the total amount the insurer will allocate for risky investments this year, an increase from the original plan of ¥60-70 billion.

Mano said there were concerns about geopolitical risks like tension between the US and North Korea during the first half.

However, the relatively stable market has allowed insurers like MS&AD Insurance to gather enough funds to move forward with their investment schedule.

As of the end of March, the insurance company’s assets were valued ¥6.8 trillion.

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