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Despite Recent Difficulties, Hasenstab Still Golden

Templeton Global Bond has suffered weak performance lately, but we're maintaining the fund's gold rating, says Morningstar's Karin Anderson.


Karin Anderson: Gold-rated Templeton Global Bond Fund has had a difficult time lately. It was down about 4% in 2015 and it's down nearly 2% so far this year. I'm going to talk about some of the reasons why we're standing by our Gold rating.

First of all, we really like the team behind this fund. It's led by Michael Hasenstab and he has a really excellent support staff and comanager Sonal Desai and six experienced analysts and traders. And what they do is they look around the world for government bonds, quasi-sovereign bonds, and they really aim to be early and hang on to those bonds as their top-down thesis plays out. So, for a long time the focus has been on emerging-markets bonds and currencies. So, that makes this fund a good deal riskier than most funds in the world bond category.

Karin Anderson does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.