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.
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