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Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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Q&A With Michael Hasenstab, Manager, Templeton Global Bond Fund

Comments

  • fundalarmfundalarm
    thanks, Ted. BTW, GIM's premium disappeared yesterday. (this is MH's non-levered closed-end vehicle managed similarly to the mutual fund)
  • TedTed
    Thanks FundAlarm, Here is a snapshot of GIM.
    Regards,
    Ted
    http://www.cefa.com/FundSelector/FundDetail.fs?ID=2679
  • CharlesCharles
    Having hard time getting past:

    "Hasenstab, 39, who oversees about $165 billion of global bond assets..."
  • BobCBobC
    Reply to @Charles: I understand what you are saying, but believe me that this guy is more than capable. If he is not smarter than any other manager we have hired over the years, he is certainly right near the top of the pile. Hasenstab is the real deal. We have used TGBAX for more than 9 years and have never been disappointed. Like all great managers, he will sometimes have periods of underperformance (2011), but they are rare and never because he strayed from his basic philosophy and methods. And, perhaps even more attractive, is that he is seldom in front of the camera, marketing for Franklin Templeton. He simply works on his portfolios. TGBAX has been a core hold in our client accounts for a long time. We continue to capture profits, but it just keeps on going.
  • CharlesCharles
    Thank you sir. I will definitely consider. Currently, preponderance of our retirement portfolio is in RNSIX.
  • RbrtRbrt
    Reply to @fundalarm: Thanks for the heads up on the premium on GIM. I have held it in years past and been very happy.

    Anyone have thoughts on the reason its premium has disappeared? Is there pressure on all similar global bond CEFs (FAX for example)?


  • fundalarmfundalarm
    Reply to @Rbrt: well, that was a one day affair. but the current premium is tiny compared to the average over the last several years. one reason is the reduced distribution yield. the fund is not leveraged as you know and invest in many global high quality sovereigns and corporates. high quality nowadays doesn't pay -- the absolute yields are pathetic, hence the prudent decision to cut the distribution rate by a penny monthly. some CEF managers prefer supplementing lower coupons with the destructive return of capital. MH would not do that.
  • WallStreetRanterWallStreetRanter
    Definitely like Hasenstab but you have to realize he will be more volatile. Also, while always mentioned for the Global Bond fund I prefer the Global Total Return as he has more flexibility to invest in corporates.

    The Wall Street Ranter
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