High-yield energy bonds are on track for their worst year since the global financial crisis yet some funds are holding on, convinced that markets underestimate the ability of many oil companies to ride out the crude price slump. Some money managers such as Western Asset Management Co., Eaton Vance Corp. and Aberdeen Asset Management have broadly held on to their investments in bonds of oil and gas producers throughout the year even as now they lag more than 95 percent of their peers, according to Morningstar data. Their exposure to energy is around 10 percent or more, with varying shares of that in high-yield energy debt. The average yield on U.S. high-yield E&P credits has risen to 13.7 percent through Friday from 10.6 percent at the end of last year, according […]