Greek Faith Costs Bondholders $6 Billion as Crisis Deepens

Investors that bet on a recovery after Greece restructured its debt have already lost a third of their money.

Almost 5.5 billion euros ($6 billion) has been wiped off the 15 billion-euro face value of Greek bonds held by asset managers from Pacific Investment Management Co. to Carmignac Gestion SA, according to data compiled by Bloomberg. The sovereign, financial and corporate notes sold since 2013 are now trading as low as 40 cents on the euro, the data show.