The exposure of the largest holder of Hungarian debt securities has recently fallen from 7.2% to 6.8%.
At the end of January Templetonʼs 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.
In the fourth quarter, Franklin Templetonʼs 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 in January.
Franklin Templeton holds large quantities of two series of Hungarian bonds valued at approximately $369.3 mln, both of which 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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