Fund giant says Irish bonds now ‘overvalued’
Head of European fixed income at Franklin Templeton reveals fund has cut its holding of Irish debt in recent months
The US investment fund giant that at one stage controlled about 10 per cent of Irish government bonds believes they have become “overvalued”.
David Zahn, the head of European fixed income at Franklin Templeton, told The Sunday Business Post that his fund had cut its holding of Irish debt in recent months because yields, or interest rates, had fallen too much to make them attractive.
“We have owned Ireland in the past, and ...
