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Franklin Templeton opens emerging market vehicle to UK investors

Franklin Templeton Investments is opening its Templeton emerging market bond fund to UK retail investors with the addition of a sterling share class.

The share class, which has distributor status, will broaden access to the Luxembourg-registered £1.4 billion fund. It will be added next week, along with a dollar-denominated accumulation share class.

Templeton emerging markets bond invests in a range of emerging market sovereign debt, including Treasury bonds from the governments of Argentina, Iraq, South Korea and Venezuela.

It was launched in 1991 and is managed by Franklin Templeton fixed income group senior vice president Michael Hasenstab.

He says: “We favour large emerging economies driven by growing domestic demand in an environment where global growth will likely remain sluggish,

“China, India, Brazil and Indonesia have fared relatively well in the global downturn as they have a lower dependence on exports than smaller countries. These four should continue to be relatively strong in the recovery compared to other emerging economies that are more dependent on consumers in the West.”

Hasenstab manages several Sicavs for the group, as well as the Templeton Global Total Return Bond, a UK Oeic.

Over the three years to January 21, 2010, the emerging markets bond fund delivered 33.2 per cent, against a return of 15.2 per cent from the offshore fixed interest emerging markets sector, according to Financial Express.

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