Fri, 21/02/2014 - 14:31
Franklin Templeton Investments has launched the Luxembourg-registered Franklin Euro Short Duration Bond Fund.
The fund will be managed by London-based David Zahn, head of European fixed income and lead portfolio manager, and Rod MacPhee, research analyst and portfolio manager, Franklin Templeton fixed income group.
The new fund will seek to preserve capital and liquidity while pursuing the best opportunities across a variety of European high-quality-short duration sectors. It will invest primarily in short-dated fixed and floating-rate debt securities and debt obligations of corporate and sovereign issuers located within the Eurozone that are rated investment grade or, if unrated, of comparable quality. The Fund will have some flexibility to invest outside the Eurozone, and across sectors. It may also, on an ancillary basis, purchase securitised debt and certain financial derivative instruments including index-based financial derivatives, credit default swaps and currency forwards.
The fund’s investment philosophy is based on the belief that a portfolio built around a diversified set of actively managed positions has the potential to generate the most attractive risk/return profile over a full market cycle. Drawing on Franklin Templeton Investments’ global fixed income platform, this multi-sector strategy has a value-based investment style that is structured to pursue diversified sources of alpha across markets, sectors and securities. It will seek to add value to portfolios by identifying and exploiting market inefficiencies while employing a disciplined risk management process.
Zahn says: “We believe it is an opportune time to launch this fund as European short duration securities provide portfolio insulation and opportunity for enhanced return in rising rate environments. We find that European short duration fixed income is a growing sector as investors are continuing to seek yield with some level of protection from interest rate risk.”
Jamie Hammond, managing director, Europe at Franklin Templeton Investments, says: “The fund has been launched in response to client demand from continental Europe and will fill a natural product gap in Franklin Templeton’s European fixed income product range. The launch marks the latest step in our initiative to promote our European fixed income capabilities, in recognition of strong institutional and retail client demand for dedicated European fixed income strategies.”
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