Bloomberg – Meiji Yasuda Life Insurance Co., with 23 trillion yen ($244 billion) in assets, said it will cut its investments in hedge funds this year as it switches to investments with steadier returns.
Japan’s third-largest life insurer will reduce its allocation to the industry by “several tens of billions of yen,” from 64.6 billion yen at the end of last fiscal year through March 31, said Shinji Makino, manager of the insurer’s investment planning division. The Tokyo-based insurer last year slashed its hedge-fund holdings by more than 40 billion yen.
