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Dai-ichi Mutual Aims to Lift Hedge Fund Investments

Bloomberg – Dai-ichi Mutual Life Insurance Co., with more than 30 trillion yen ($274 billion) in assets, will invest more money with hedge funds to safeguard returns as financial markets falter.

Tokyo-based Dai-ichi Mutual, Japan’s second-largest life insurer, currently invests in more than 100 hedge funds as well as funds of hedge funds, Yuji Hirai, manager of the firm’s structured and alternative investment department, said in an interview in Tokyo yesterday. He declined to provide specific targets for hedge fund allocations.

“Our goal is to increase our allocation to hedge funds,” said Hirai, 40. “We’re in a difficult market, no doubt, but for hedge funds chasing absolute returns, this is the time to prove their outperformance.”

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