Weekly investors roundup: Sumitomo Life Insurance issues $22 billion corporate bond mandate; Singapore's GIC increases stake in India's Phoenix Mills with $50 million investment
Sumitomo Life Insurance hands $22 billion foreign corporate bond mandate to US-based Symetra; Singapore’s GIC ups stake in India-based Phoenix Mills with $50 million new capital injection; Eight Taiwan pension funds report total investment loss of $8.4 billion from January through May; and more
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Sumitomo Life Insurance has handed a 3 trillion yen ($22 billion) foreign corporate bond mandate to its US-based investment arm, Symetra Investment Management, and will keep raising exposure to such debt to earn income.
Last October, the insurer outsourced a 2 trillion yen foreign corporate bond mandate, also to Symetra. According to Sumitomo, Symetra has “a strong track record in investment management, particularly reducing downside risk during market …
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