OTS - DMSA study: EVERGRANDE - 10 Billion US-Dollar in losses for Asia-Funds (part 2)
2021. November 17. 13:47
Berlin, 17 November, 2021 (APA/OTS) -
Name Losses In Participation AuM in Bio. $ Losses
in
% 2021 Evergrande Bonds Bio. $
========================= ========= ================== =============
=========
FIDELITY FUNDS - ASIAN -0,1727 215.056.305 3,9 -0.79
HIGH YIELD FUND
------------------------- --------- ------------------ -------------
---------
UBS Lux Bond SICAV - -0,2083 171.924.000 2,97 -0.75
Asian High Yield
------------------------- --------- ------------------ -------------
---------
Ashmore SICAV - Emerging -0,1124 166.656.000 21,35 -2.67
Markets TR
------------------------- --------- ------------------ -------------
---------
Ashmore SICAV - Emerging -0,1118 140.016.000 3,33 -0.41
Markets LC
------------------------- --------- ------------------ -------------
---------
IShares USD Asia High -0,155 134.439.000 1,74 -0.31
Yield Bond Index
------------------------- --------- ------------------ -------------
---------
PIMCO Asia High Yield -0,1283 111.300.000 1,73 -0.25
Bond Fund
------------------------- --------- ------------------ -------------
---------
BlackRock Global Funds- -0,0827 88.589.000 5,25 -0.47
Asian Tiger Bond
------------------------- --------- ------------------ -------------
---------
Fidelity Funds - Global -0,0393 76.007.640 9,3 -0.38
Multi Asset Income
------------------------- --------- ------------------ -------------
---------
Eastspring Investments - -0,0825 58.950.000 3,6 -0.32
Asian Bond
------------------------- --------- ------------------ -------------
---------
AB FCP I - Global High -0,0236 28.460.000 27,05 -0.65
Yield Portfolio
------------------------- --------- ------------------ -------------
---------
1.191.397.945 -7.01
------------------------- --------- ------------------ -------------
---------
Losses of funds with largest Evergrande bond exposure
The losses incurred have already called for personnel
consequences. The senior investment manager of UBS Asian High Yield
has reportedly left the firm after suffering significant losses
since the start of the year and holding substantial holdings in the
Chinese real estate sector, including bonds issued by Evergrande.
Singapore-based Ross Dilkes has left UBS Asset Management after
starting there 16 years ago, according to a "Bloomberg" report.
Dilkes is the senior manager of the Asian High Yield fund, which
was launched about nine years ago.
Treasury Secretary and ex-FED President Janet Yellen fears
consequences for the global economy. She recently warned that
Evergrande's and other Chinese difficulties in repaying billions of
dollars in loans could have repercussions for the global economy.
Fears that its collapse could drag down Chinese banks and shake
the country's huge real estate market have roiled global financial
markets and now Americans.
The Federal Reserve warned of direct risks to the U.S. in its
latest Financial Stability Report. Financial tensions in China
could weigh on global financial markets by worsening risk
sentiment, pose risks to global economic growth, and affect the
United States.
Please find more information and the research report at
www.dmsa-agentur.de
About DMSA Deutsche Markt Screening Agentur GmbH:
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data service that collects and evaluates market-relevant
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when selecting products, investments and services.
Press contact:
Inga Oldewurtel
Press Officer
mailto: oldewurtel@prio-pr.de
Tel.: +49 176 62 26 18 97
Responsible for the content:
DMSA Deutsche Markt Screening Agentur GmbH
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10439 Berlin
Germany
Michael Ewy
Managing Director
http://www.dmsa-agentur.de
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