April 16, 2018 / 6:02 AM / a year ago

INTERVIEW-Fukoku Life plans to continue investing in 'open foreign bonds' this FY

TOKYO, April 16 (Reuters) - Fukoku Mutual Life Insurance plans to invest 220 billion yen ($2.05 billion) in open foreign bonds, or foreign bonds without currency hedging, this fiscal year as hedging costs remain high, a senior company executive said on Monday.

The insurer, which had 6.77 trillion yen in total assets as of December, plans to invest particularly in Australian and Canadian dollar-denominated bonds, while it expects to reduce investment in foreign bonds with currency hedging by 110 billion yen, said Takehiko Watabe, general manager of investment planning. ($1 = 107.1500 yen) (Reporting by Ayai Tomisawa and Daiki Iga; Editing by Gopakumar Warrier)

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