Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Franklin Templeton Early Exit Would Be Self-Defeating, Irish Say

Nov. 22 (Bloomberg) -- Ireland’s bond agency Chief Executive John Corrigan said today he welcomed Franklin Templeton Investments view of the country and said that any large exit of its holdings in Irish government debt before they mature would probably be self-defeating.

“I don’t want to comment in too much detail on Franklin Templeton’s trading style but in assembling that portfolio they would have had to take a view as regards what their exit arrangements are and in that respect the idea that they could exit in size from before those bonds fall for maturity would be self-defeating,” Corrigan said in response to a question from lawmakers in Dublin today. Franklin Templeton owns about 8 billion euros ($10.3 billion), or 10 percent, of Irish government bonds, according to data compiled by Bloomberg.

Franklin Templeton’s investment is “an outlier in terms of its large size,” according to Corrigan. The agency has seen sizeable purchases of Irish debt by other investors in European and U.S., Corrigan said.

Moody’s Investors Service non-investment grade rating of Irish government debt remains a “big impediment” to attracting back Asian investors, he said.

Link to Company News:{1266Z ID <Equity> CN <GO>} Link to Company News:{ANGL LN <Equity> CN <GO>}

To contact the reporter on this story: Joe Brennan in Dublin at

To contact the editor responsible for this story: Finbarr Flynn at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.