Country Garden: Most exposed Asian high-yield bond funds

Fund managers of several high-yield bond funds in Asia have good reason to closely monitor unfolding developments in China's property market. Eight high-yield bond funds available for sale in Hong Kong and seven funds in Singapore have exposure to struggling developer Country Garden, according to data from funds tracker Morningstar. The exposure, however, is quite small, ranging from 0-4% of a fund's total assets under management. China's property sector used to account for a …