Cathay Life resists pressure for greater home bias

GPIF suffers largest quarterly loss; Manulife makes first China industrial investment; NPS raises alternatives allocation; KIC eyes huge growth, partners with asset manager for alts fund; EPF to invest more overseas; pension funds launch sustainable investment data platform; Google and Temasek discuss investing up to $1b in Indonesian e-commerce firm, and more.

Insurance firms in Asia and elsewhere have moved to take advantage of pandemic-driven spread widening on both high yield and investment grade debt.

While the fund suffered negative growth over the 11 months of the most recent financial year, it will keep using its passive reference portfolio to benchmark its active investments.