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Post by roi2020 on Sept 9, 2021 1:52:50 GMT
The September 2021 Morningstar Fund Investor newsletter indicates that Templeton Global Bond (TPINX) was downgraded from Silver to Neutral.
TPINX was one of the premier funds in the World Bond category years ago. Templeton Global Bond was different from most World Bond funds due to substantial emerging markets exposure and its currency bets. The fund generated top 1% / top 2% category returns for the respective 10 Yr and 15 Yr trailing periods as of 01-31-16. Michael Hasenstab (M* 2010 Fixed-Income Manager of the Year) started co-managing TPINX on 12/31/2001. Several fund managers have come and gone since then. Templeton Global Bond was moved to the Nontraditional Bond category in 2019.
I remember purchasing Templeton Global Income (GIM - CEF version of TPINX) in late 2013. GIM was trading with an attractive discount and it had a lower expense ratio than TPINX. Unfortunately, the discount widened and Mr. Hasenstab lost his mojo. I sold the CEF approximately five years later booking a small profit.
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Post by yogibearbull on Sept 9, 2021 2:07:51 GMT
I had GIM years ago. But Hasenstab has been chasing trouble spots around the world and doesn't have much to show from those. Only he and his fund holders have gotten burned.
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nobhead
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Post by nobhead on Sept 9, 2021 2:37:25 GMT
I bought TGBAX in 2010 and sold some in 2013, 2014, and the rest in 2015. Was lucky to make a small profit before I sold.
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