Tokyo-based Daido Life Investment Trust Management, with over JPY300 billion (USD2.3 billion) under management, is considering investing in equity-linked notes to provide enhanced yield. Ichiro Irii, fund manager, said he will consider purchasing ELNs based on Japanese shares for the trust's convertible bond fund. Price is a key consideration in using these instruments, he continued, declining to elaborate on a timeframe or target price range. Daido, which runs equity and fixed-income portfolios, typically uses Nikko Salomon Smith Barney, Daiwa Securities and the Mizuho Group as brokers.
Japanese Trust Considers ELNs
