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"We've seen tremendous growth in the opportunity set of government bond, currency and credit investments around the globe, along with increased investor demand for international bonds," said Hasenstab. "In recent years, client holdings of global bonds have moved from a tactical and peripheral allocation to a core and strategic part of their broader fixed income portfolios and, as a result, we have seen a significant growth in our assets." Franklin Templeton's global/international fixed-income assets have grown from $14 billion five years ago to $63 billion as of September 30, 2009.
Hasenstab continued, "We remain committed to adding resources to support our continued growth in the asset class, and we are very excited for Sonal to join our team. She brings a strong background to this newly created position, and is a valuable addition to our global team."
Desai has over 15 years of experience in the financial services sector. Most recently, she was a member of the global credit team at Thames River Capital in London. Shaping the team's top-down global view on macroeconomic and market developments, Desai was responsible for G10 and global emerging markets. Prior to that, she was director and senior economist for Dresdner Kleinwort Wassertein in London, where she oversaw macroeconomic coverage of Turkey, Russia and other sub-investment EMEA. She has also held positions at WestLB in London and at the International Monetary Fund in Washington D.C. Desai holds a Ph.D. in economics from Northwestern University, and earned a B.A. with honors from Delhi University in New Delhi.
The international bond department, part of the Franklin Templeton Fixed Income Group, takes a top-down approach, looking at foreign countries' economies, geopolitical risks, interest rates and currencies. The Franklin Templeton Fixed Income Group is currently composed of more than 120 investment professionals based in New York, San Mateo and London combined with local asset management teams in China, Brazil, India, South Korea and the U.A.E.
Franklin Resources, Inc. (NYSE: BEN | Quote | Chart | News | PowerRating) is a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series, Fiduciary Trust, Darby and Bissett investment teams. The San Mateo, CA-based company has more than 60 years of investment experience and over $523 billion in assets under management as of September 30, 2009. For more information, please call (800) DIAL BEN(R) or visit franklintempleton.com.
Contact: Franklin Templeton Investments Corporate Communications Matt Walsh 650-312-2245 franklintempleton.com
SOURCE: Franklin Templeton
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