Michael Hasenstab Fund Loses $3 Billion in a Miserable Quarter
- Franklin Templeton’s star manager is hit by Argentina default
- Fund maintained short Treasury position as U.S. bonds rallied
This article is for subscribers only.
Franklin Templeton’s flagship Global Bond Fund lost $3 billion in the third quarter as two of its biggest investments soured.
Total net assets in the fund managed by star investor Michael Hasenstab dropped from $33 billion to $30 billion in the three months through September, according to public filings.