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Rating:WSJ Finds Few Bond Funds with Exposure to Greece, Portugal Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, February 09, 2010

WSJ Finds Few Bond Funds with Exposure to Greece, Portugal

News summary by MFWire's editors

Around 100 U.S. bond funds have at least 1 percent of their assets in the debt-troubled countries of Greece, Portugal, Ireland and Spain, according to The Wall Street Journal.

Tuesday's Fund Track column also noted that about 12 bond funds have 5 percent or more assets in the four economically insecure nations, including the $1.8 billion American Century International Bond Fund, which has 10 percent of its assets in Spanish, Portuguese and Irish debt. The fund's co-manager, Federico Garcia Zamora, even told The Journal that he's looking to purchase Greek bonds on the cheap.

The Pimco Total Return Fund recently increased its international bond exposer from 9 percent to 20 percent, although it's too early to discern investments in particular countries.

The article also mentions the Barclays Capital U.S. Aggregate Bond Index, which tracks the U.S. bond market and fund giant The Vanguard Group, which doesn't currently offer any international bond funds. 

Edited by: Daniel Tovrov


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