Franklin Templeton holdings of Hungarian debt drop

MNB

American asset manager Franklin Templeton's holdings of Hungarian government securities dropped by 2.2% in Q4 last year, as compared to the preceding quarter, and fell by a year-on-year 4.1% due to the forint weakening to the dollar, Hungarian business daily Napi Gazdaság reported today.

In the fourth quarter, Franklin Templeton's holdings of Hungarian debt dropped by $267.3 mln  as compared to the previous quarter, while holdings were down approximately half a billion dollars in year-on-year terms. The forint weakened almost 6% to the dollar in Q4 and slipped more than 20% for the full year, it was noted.

Franklin Templeton owns two large Hungarian bonds valued at approximately $369.3 mln and both are set to mature this year, one in February and the other in August, the paper said, adding that in 2014, the company held about 11% of Hungarian state debt.

ADVERTISEMENT

Sharp Rise in Energy Costs Putting Strain on Competitiveness Analysis

Sharp Rise in Energy Costs Putting Strain on Competitiveness

Parl't approves 2023 budget Parliament

Parl't approves 2023 budget

Danubius Hotels Appoints Group Director of Development Appointments

Danubius Hotels Appoints Group Director of Development

3 Downtown Districts Planning to Introduce 30 km/h Speed Lim... City

3 Downtown Districts Planning to Introduce 30 km/h Speed Lim...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.