As defaults of subprime mortgages continue to rise, it turns out that the affected homeowners and their lenders aren't the only ones hurting. A handful of bond funds got nicked, too. The good news: It appears the damage is limited, with the majority of fund managers having pre-sciently dumped their subprime securities last year or at least limited their exposure. "Fund managers were on to this problem well ahead of the media," says Jeff Tjorne-hoj, a senior research analyst at Lipper Inc., a New York fund analysis service.
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