Rich Asians Feel Pain on $10 Billion Bond Bets After Crash

Risky bond investments that wealthy Asians often made with borrowed money are coming back to haunt them after the credit market’s crash.

Before the coronavirus pandemic roiled global financial markets this year, those investors piled into so-called fixed maturity funds in a hunt for stable yields. Barclays estimated last month that there’s more than $10 billion of such products outstanding in Asia.