Michael Hasenstab’s Global Bond Fund Loses Another $3 Billion
- Total net assets drop to $26.9 billion in fourth quarter
- Fund hit by short-duration, Argentina strategies last August
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A global bond fund managed by star investor Michael Hasenstab saw assets drop by $3 billion for a second consecutive quarter, even after he backtracked on two loss-making investments.
Total net assets in the Templeton Global Bond Fund declined from $30 billion to $26.9 billion in the three months through December, according to public filings. Total holdings were down by a similar amount in the third quarter.