Franklin Templeton's Hasenstab hit with $1.8bn Argentine bond losses - reports
In the wake of Monday's sell-off
Templeton Global Macro's Michael Hasenstab
Franklin Templeton bond funds managed by Michael Hasenstab have reportedly lost a total of almost $1.8bn (£1.5bn) in a single day as a result of the manager’s exposure to Argentinian government bonds, which were hit will with a sell-off in the wake of President Mauricio Macri primary elections defeat over the weekend.
Hasenstab has been one of the biggest buyers of Argentine debt, having purchased more than three-quarters of $3bn "Bote" made available in May 2018, with six of his funds building significant exposure...
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