Franklin Templeton's Hasenstab hit with $1.8bn Argentine bond losses

clock • 2 min read

Franklin Templeton bond funds managed by Michael Hasenstab have reportedly lost a total of almost $1.8bn (£1.5bn) in a single day as a result of the manager's exposure to Argentinian government bonds, which were hit will with a sell-off in the wake of President Mauricio Macri's primary elections defeat over the weekend. Hasenstab (pictured) has been one of the biggest buyers of Argentine debt, having purchased more than $2bn "Bote" made available in May 2018, with six of his funds, thereby building significant exposure to the country's bonds. However, after the weekend's news invest...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login