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Kokusai Asset Management, Japan's largest mutual fund company, says it has unloaded all of its...
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Monday, November 28, 2011, 11:36 AM ETKokusai Asset Management, Japan's largest mutual fund company, says it has unloaded all of its Italian, Spanish, and Belgian bond holdings, lowering the level of euro-denominated paper in its flagship fund to 15.9% from more than 30% two months ago. Hopefully not auguring the next trouble spots, the fund is redirecting assets to the debt of Canada, Australia, Sweden, and Norway.
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After finding out my core money market's exposure to Europe in August, I ran too.