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Sumitomo Life Plans Higher Yen, Foreign.......>

JAPAN
MNI (London)
JAPAN: Sumitomo Life Plans Higher Yen, Foreign Bond Buys 
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Sumitomo Life will look to increase its foreign bond holdings, mainly corporate
bonds, by several hundred billion yen, reversing last year's investment policy,
the company's chief fund manager said Friday.
--Plans to up domestic bond holdings, buying super long JGBs if yields rise.
--As for hedged foreign bonds, Sumitomo Life is mainly focused on high-credit
corporate bonds.
--Plans to increase the balance of unhedged foreign bonds, but will consider
shifting to hedged if concern over the yen's rise picks up.
--Sees dollar-yen between JPY100 and JPY115 and euro-yen JPY105 to JPY130.0
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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