FRANKLIN Templeton Investments is designing its first bond fund focused on Australia to withstand a near one percentage point surge in the local 10-year yield.
The fund, set to start within the next two months, is targeting a return of 300 basis points more than cash rather than tracking bond benchmark indexes that may suffer losses as yields rise. With more than US$900 billion in assets under management globally, Franklin Templeton is building a four- person fixed-income team in Australia, starting...
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