Shifting Market Spurs Dai-ichi to Adjust $219 Billion Portfolio
- Dai-ichi is holding off on buying JGBs until yields rise
- Insurer plans to spend up to 300 billion yen on acquisitions
Dai-ichi Life Group offices in Tokyo.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Japan’s largest listed life insurer has a dilemma — its traditional investment strategies aren’t working.
Yields on Japanese government debt are too low. Foreign bonds have too much currency risk. And the company is cutting its holdings of domestic equities, which are surging, to avoid too much exposure to the asset class.