“We continue to hold Evergrande in fixed maturity funds because exiting the position at this point removes any optionality around a successful resumption in con

“We continue to hold Evergrande in fixed maturity funds because exiting the position at this point removes any optionality around a successful resumption in construction activity, external financial assistance, or policy adjustment in the coming months, and Evergrande bonds are now trading at or below typical historical recovery values”. That is almost poetic. Had to squeeze away a tear XD