Bloomberg - Some of emerging markets major investors had significant holdings in the bonds of high-risk real estate firm China Evergrande Group according to their latest filings.
Ashmore Group Plc, a London-based money manager that specializes in buying emerging market debt, was one of the largest holders of the company s bonds with more than $400 million worth according to data compiled by Bloomberg based on end of June filings. The rules on how funds disclose their holdings vary in different countries.
UBS Group AG and HSBC Holdings Plc were also large owners, most of them held by vehicles that focus on emerging markets or Asian credits. The size of the companies holdings may have changed since fund documents were filed. Law firms Moelis Co. and investment bank Kirkland Ellis have been hired as advisers by some bondholders.
What should one write when a world bankruptcy threatens and as debt crunch begins, brag about Evergrande Bondholders Race to Organize as Evergrande Bondholders Race to Loom?