Investors underestimate CNH credit risk, say fund execs
While generally positive on the opportunities in Asia’s high-yield credit market, fund managers do have concerns, not least about the risks of CNH bonds.
The Sino Forest debacle – which has seen the Chinese forest plantation operator lose more than 80% of its stock value since the start of June following a damning report from short-seller Muddy Waters – has drawn attention to the credit risk of Chinese corporate bond issuers, say asset managers.
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