Skip to content
Subscriber Only

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
Video player cover image
Star Manager Hasenstab's Fund Loses $3 Billion in Rocky Quarter

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.