Franklin Templeton launches int'l bond fund

Franklin Templeton Investments, a subsidiary of Franklin Resources Inc., has launched the Templeton International Bond Fund for U.S. investors. The fund, which is offered by the Franklin Templeton Fixed Income Group, seeks to generate income by investing in foreign fixed income markets. Managed by Michael Hasenstab, co-director of Franklin Templeton Fixed Income Group's international bond department, the fund employs a top-down approach, looking at foreign countries' economies, geopolitical risks, interest rates and currencies. Franklin Templeton will make investment decisions by searching for investments in countries where bonds are underpriced and where country fundamentals offer the potential for price appreciation, the firm said. Despite focusing mostly on investment grade foreign bonds, the fund will also invest up to 35% of its assets in below investment grade securities. The San Mateo, Calif.-based company managed over $643 billion in assets as of Dec. 31.