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Canadian fund managers see opportunity amid high-yield bond sell-off Add to ...

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The sell-off in U.S. high-yield bonds has some Canadian fund managers seeing a buying opportunity, rather than a reason to panic.

U.S. high yields are on course for the worst year since the financial crisis, which has forced three credit funds to wind down in recent days.

“We’re still constructive on non-resource high yield,” said Dhruv Mallick, a fixed income analyst at Leith Wheeler Investment Counsel in Vancouver. “You can find companies with good balance sheet positions, and strong free cash flow … at 7 or 8 per cent (yield).”

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