Franklin Templeton in $5 billion Ukraine debt gamble

Franklin Templeton in $5 billion Ukraine debt gamble:

"Franklin Templeton, a big U.S. money manager known for astute but aggressive bets in the sovereign debt market, has emerged as the dominant bankroller of Ukraine despite the country teetering on the edge of an economic crisis.

The investment group has snapped up Ukrainian international debt with a face value of almost $5 billion at the end of August, nearly a fifth of the country's outstanding international government bonds according to data gleaned from Bloomberg.

The investments have been directed by Michael Hasenstab, who was also the architect of Franklin Templeton's massive purchase of Irish debt, which helped calm the country's financial markets in the wake of the euro zone crisis."

'via Blog this'