Daido Life Insurance Co., with assets of $58 bn, will increase investment in private equity and hedge funds, while selling lower-yielding Japanese debt.

Holdings in such funds will be raised to about 370 bn yen ($3.56 bn) in the year started April 1, from 320 bn yen at the end of March, Akio Shinju, general manager of investment planning at the Osaka-based company, said in an interview May 21.