The second-largest life insurer in Taiwan cuts its allocation to China bonds and raises its exposure to North America.
Unlike bigger peer Cathay Life, Fubon Life said it might look at investment opportunities in the domestic market as hedging costs rise along with US interest rates.
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Cathay Life and Shin Kong Life have been upping their exposure to emerging market bonds. They and Fubon Life have also generated strong returns from high-dividend stocks.
The Bureau of Labor Funds, Cathay Life and Fubon Life are upbeat about the move to allow domestic asset managers to launch private equity funds.
The Taiwanese insurer is also keen on Formosa bonds and high-dividend stocks, but has zero US Treasuries and is waiting for yields to rise before it buys more foreign fixed income.