Average Group Annuities Investment Inked -8.92% In The First Half of 2011

The average return for group annuities in special accounts which Japan's six largest insurers invest in on behalf of corporate pension funds was minus 8.92% in the first half of fiscal 2011, compared with minus 6.75% a year earlier, according to Nikkei. The another poor performance in investment return is mainly attributed to a drop in domestic stock prices and the yen's sharp rise hurting investments in foreign bonds.