Templeton's Hasenstab defends Hungarian debt position

Natalie Kenway

Franklin Templeton Investments' Michael Hasenstab has defended his Hungarian debt position amid reports the group owns 10% of the country's local bond market.

His response comes in a week which saw Hungarian government bond yields soar above 10% after the government cancelled part of its debt auction, although the remaining debt up for grabs failed to raise the targeted 45bn forint. Hasenstab said he is not concerned about the recent volatility in the region, adding the country has "healthy liquidity buffers". In December, Investment Week followed up a report in a Hungarian business newspaper which said 10% of Hungary's local bond market is owned by Franklin Templeton Investments. The group's $61bn Templeton Global Bond fund, run by Hase...

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