Templeton Holds 12% Of Hungary's State Debt
- 24 Jul 2014 1:00 AM
Franklin Templeton had nearly $13 billion or Ft 2.945 trillion invested in Hungarian bonds at the end of June, according to the US investment fund’s quarterly report. This amounts to 11.9% of the total budget debt.
The fund’s investments in Hungarian bonds expanded by 3.2% from the first quarter to the second.
Templeton has run down its treasury bill portfolio and now holds Hungarian treasury bonds only.
It is likely that the fund expected an end to cuts in the base rate and wanted to offload its short-term investments, Napi Gazdaság suggests.
Source: Hungary Around the Clock
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