Franklin Resources Inc.’s biggest funds ramped up their bet on Ukraine by more than $1.4 billion in the third quarter, adding to the asset manager’s status as the country’s largest international bondholder weeks before street protests deepened the worst rout in developing markets.
For Michael Hasenstab , manager of the top-rated and best-selling Templeton Global Bond Fund , Greece is the latest example of why investors should avoid countries that rely too heavily on borrowed money.
Franklin Resources Inc., the manager of the Franklin and Templeton mutual funds that has the majority of its equity assets in global stocks, said fiscal fourth- quarter profit climbed 3.4 percent as rising markets boosted assets.
Templeton Global Bond Fund rejoined the top-performing fixed-income funds following last year’s underperformance by scooping up distressed Irish bonds and keeping bets that the Asian currencies will rise.
Franklin Resources Inc., manager of the Franklin and Templeton mutual funds, said top-ranked bond investor Michael Hasenstab will run a newly created U.S. mutual fund that will invest in emerging market debt.
Investors may profit in 2011 by buying the U.S. currency against Japan’s as the yield difference between the two nations’ bonds widens in favor of the dollar, according to Franklin Templeton Investments.