Korea to introduce high-yield bond funds

South Korea’s National Assembly is hurrying through a bill to allow investment trust management companies offer high-yield fixed-income funds to investors. The legislation was initially slated to pass by July 1, but last-minute wrangling with the tax authorities means it will not be passed for another two or three weeks. The government is keen to offer a broader product range to retail and institutional investors and deepen the domestic capital markets. Fund managers are wary of the d…