MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, July 31, 2014 Tough Times Test Templeton These may the times that test Franklin Templeton’s soul. Franklin Resources reported a net income for this quarter of 92 cents per share, missing analyst consensus of 95 cents, reports Bloomberg. Share prices dropped 1.8 percent as a result, the wire reports. The newswire cites Sandler O’Neill analyst Michael Kim, who says that Franklin’s lower cost funds saw more growth than their higher fee products. Bloomberg also reports that a big driver of flows for the firm, Michael Hasenstab’s $72-billion Templeton Global Bond Fund, (which Morningstar data says outperformed 99 percent of its peers for the past 10-years) has seen outflows this year because Hasenstab has invested heavily in off-shore debt from the Ukraine. Barron’s notes that Hasenstab has taken a number of notable bets recently, including heavy allocations into troubled Ghana. Printed from: MFWire.com/story.asp?s=49312 Copyright 2014, InvestmentWires, Inc. All Rights Reserved |