Franklin Templeton cuts back Grafton Group stake

Franklin Templeton cuts back Grafton Group stake

Giant investment firm Franklin Templeton – which manages nearly $18 billion in assets – has sold down around £17 million (€18.8 million) in shares in Irish building supplier Grafton Group on behalf of a number of its clients.

The firm – famous for having made a reported €5.6 billion on an enormous bet on Irish government bonds – was holding the shares on behalf of a number of its clients, including AIB, JPMorgan Chase, Northern Trust and Deutsche Bank, according...

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