Franklin Templeton holds 10% of Hungary's govt debt - reports

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

Hungarian business daily newspaper Napi Gazdasag reported on 6 December that the group has accumulated more than 1trn forints ($4.4bn) as a house. The group's $61bn Templeton Global Bond fund, run by Michael Hasenstab, has a 4.3% exposure to Hungary, translating to $2.6bn, while the $494m Templeton Emerging Markets Bond fund has a 6.4% allocation, or $31m. Bloomberg data, as at the end of September, showed a number of Hungarian local currency bonds among the Global Bond fund's holdings, as well as debt issued in foreign currencies. On one local currency government bond, which is $2...