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Korea’s Dongbu allocates $100 million to U.S. municipal bond strategy

Dongbu Insurance Co. Ltd. hired Eaton Vance (EV) Management (EV) to invest $100 million in taxable U.S. municipal bonds, confirmed a fixed-income executive at Dongbu.

Robert White, the Singapore-based president of Eaton Vance Management International (Asia) Pte., said in an email the allocation was the first from a Korean institutional investor for Eaton Vance’s taxable municipal bond strategy.

The Seoul-based insurer has roughly $25 billion in net assets.