The Taiwanese insurer has welcomed the US rate hike, but is concerned about global uncertainty. It is buying more emerging-market bonds, with the exception of Chinese debt.
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The Taiwanese insurer plans to overweight emerging-market government debt and foreign corporate bonds this quarter, amid heavy outflows from fixed income and EM assets globally.
The Taiwanese insurer will boost its overseas fixed-income allocation in developed markets, but is reducing its renminbi debt exposure and remains underweight equities.
