Goldman Sachs Asset Management is buying one of the world’s most distressed assets – Chinese real estate debt – even as other investors shy away.The firm has been adding a “modest amount of risk” through high-yield bonds issued by China property developers and denominated in US dollars, said Angus Bell, a member of Goldman’s portfolio management team. The debt has sold sharply over the last two months as China Evergrande Group, the world’s most indebted developer, moved closer to a potential…
Source : South China Morning Post
Read more…Goldman ventures where others fear to tread, snapping up Chinese developers’ high-yield bonds, side stepping contagion risk
