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European fund giant Amundi says has $25 million China Evergrande exposure By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – The Amundi logo can be seen in their Paris headquarters on October 7, 2015. REUTERS/Philippe Wojazer

LONDON (Reuters) – Europe’s biggest asset manager Amundi’s exposure to troubled Chinese property giant China Evergrade Group is currently $25 million, less than 10% of what it was earlier in the year, a spokesman for $2 trillion fund firm told Reuters on Friday.

EMAXX data provides information on funds’ holdings based their recent public disclosures. It shows that Amundi had around $300m worth Evergrande’s international markets bonds back in March. That makes Amundi the top overall holder.

Evergrande’s international bonds (which total nearly $20 Billion) were valued back in March at around 90 Cents per USD. But, as concerns have grown about the company’s finances, they have fallen to between 25-30 Cents and $25-30 this month.

($1 = 0.8490 euros)

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