Franklin Templeton

Hungarian bond yields soared above 10% yesterday after the government cancelled a bond swap auction, increasing fears the country will be the first in the EU to default on its debt.

Around 10% of Hungary's local bond market is owned by Franklin Templeton Investments, according to reports.

James Murdoch has been re-elected as chairman of beleaguered media group BSkyb despite calls from fund management groups for his resignation.

Paul Spencer, manager of the Franklin UK Mid Cap fund, has initiated a holding in New Britain Palm Oil - the fund's first ever investment outside the FTSE 250.

Franklin Templeton's Mark Mobius has said he does not believe there will be a recession in developed or emerging markets despite the ongoing eurozone sovereign crisis.

Franklin Templeton Investments has been given the all-clear from the FSA to rebrand Rensburg Fund Management.

Franklin Templeton Investments has launched a global multi-asset product which makes use of the group's multi-manager capabilities and has the option to hedge markets on the downside.

Franklin Templeton's Mark Mobius has said Russia is his current emerging market of choice and suggested concerns over corporate governance are misplaced.

ON EMERGING MARKETS

Emerging markets veteran Mark Mobius is shunning domestic market Chinese A-shares in favour of Hong Kong H-shares following underperformance.