Funds exposed to China Evergrande stocks and bonds
Sept 27 (Reuters) - Sharp falls in the stocks and bonds of China Evergrande Group have raised the spectre of losses for global asset managers with exposure to the embattled property developer.
The below graphics show the exposure of asset managers to the Chinese firms stocks and bonds and how they have performed.
On the equities side, various Vanguard funds held a combined $40 million or so worth of shares as of August, Refinitiv Eikon, data showed, while BlackRock held at least $13 million across its iShare MSCI emerging market ETFs.
Evergrande bondholders also include some of the world's biggest asset managers, according to the latest data published by Morningstar Direct on holdings of U.S. and cross border funds, as well as Asian bond funds.
The debt is held by funds run by asset managers such as UBS, Fidelity, PIMCO as well as emerging markets focused asset manager Ashmore Group ASHM.L , the data showed.
Some of the funds had raised Evergrande exposure in July and August even as unease grew over its financial situation, Morningstar found.
Shares in Evergrande 3333.HK have recouped some recent losses after the firm announced on Wednesday it had struck a deal to settle interest payments on a domestic bond. It reassured retail investors on Thursday that they were a top priority.
On Monday, stocks ended the day more than 8% higher. However, the stock has plunged 83% this year, the fourth-biggest decline among Asia's large and mid-cap companies, according to Refinitiv data.
Evergrande missed a $83.5 million coupon payment deadline on a dollar bond last week and its silence on the matter has left global investors wondering if they will have to swallow large losses when a 30-day grace period ends.
Yield on that bond maturing March 2022 VG158043114= hit a record high of 636% on Wednesday, compared to 13.7% at the start of the year. It was trading at 570% on Monday.
Funds with biggest shareholding in China Evergrande Group Link
Asian debt funds' holdings in China Evergrande bonds Link
EM debt funds' holdings of Evergrande bonds Link
Performance of China Evergrande Group's shares this year Link
Change in China Evergrande Group's bond yields this year Link
Reporting by Gaurav Dogra and Patturaja Murugaboopathy in
Bengaluru; Editing by Nick Zieminski
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。