Hasenstab’s Global Bond Fund Drops 7.2% as Asian Currencies Fall

Michael Hasenstab’s $59 billion Templeton Global Bond Fund, the best-selling mutual fund this year, declined 7.2 percent in the past month as Asian currencies slumped.

Templeton Global Bond Fund helped San Mateo, California-based Franklin Resources Inc. quadruple its global bond assets since June 2009. The fund, which beat 98 percent of rivals over five years, is down 3.3 percent since the start of 2011, and it trailed 99 percent of peers this year through Sept. 22, according to data compiled by Bloomberg.