Leaving Franklin Templeton

Clicking OK below will take you to an independent site. Information and services provided on this independent site are not reviewed by, guaranteed by, or endorsed by Franklin Templeton or its affiliates. Please keep in mind that this independent site's terms and conditions, privacy and security policies, or other legal information may be different from those of Franklin Templeton's site. Franklin Templeton is not liable for any direct or indirect technical or system issues, consequences or damages arising from your use of this independent website.

Sign in to view documents

Sign in to view documents

Built with Intention. Managed with Discipline.

We combine global scale, independent decision-making, and disciplined risk oversight to align portfolios with client objectives across market cycles.

Broad capabilities. Deep expertise

  • Our global fixed income platform spans markets and sectors, integrating specialized expertise across a wide range of capabilities.
  • This breadth of perspective strengthens portfolio construction, supporting clear mandates, disciplined risk oversight, and defined roles within broader allocations.

Independent decisions. Shared insights

  • Specialized teams express differentiated views within defined mandates.
  • A shared macro framework provides alignment, while strategies flex between top-down insight and bottom-up conviction.
  • Cross-sector dialogue and integrated quantitative tools sharpen insight, reinforcing disciplined portfolio construction.

Risk taken with intent

  • We take risk deliberately and with purpose to achieve client objectives, adjusting exposures as market conditions evolve.
  • Risk management is embedded throughout the investment process, providing continuous oversight and objective challenge.
  • A second oversight lens is applied by an independent risk team.

Our approach strives to support consistent, repeatable outcomes aligned with client expectations across market cycles.

Sign in to view documents

Investment leadership

Franklin Templeton Fixed Income is led by Sonal Desai, Ph.D. Chief Investment Officer, Franklin Templeton Fixed Income.

Dr. Sonal Desai oversees all of Franklin Templeton's Fixed Income teams and is a member of Franklin Resources' Executive Committee, a small group of the company's top leaders responsible for shaping the firm's overall strategy and thematic investment direction. She also serves on the firm's Management and Investment Committees.

Follow Sonal on LinkedIn

Sign in to view documents

Franklin Templeton Fixed Income Team Leaders​

Ben Barber, CFA professional headshot

Ben Barber, CFA

Head of Municipal Bonds

John Beck professional headshot

John Beck

Head of Global Aggregate

Navin H. Belani professional headshot

Navin H. Belani

Head of Credit Research

SK

Santosh Das Kamath

Head of India Alternatives

Rahul Goswami professional headshot

Rahul Goswami

Head of Indian Fixed Income

Nicholas Hardingham, CFA professional headshot

Nicholas Hardingham, CFA

Head of Emerging Market Debt

Michael Hasenstab, Ph.D. professional headshot

Michael Hasenstab, Ph.D.

Head of Templeton Global Macro

Mohieddine Kronfol professional headshot

Mohieddine Kronfol

Head of Global Sukuk and MENA Fixed Income

Josh Lohmeier, CFA professional headshot

Josh Lohmeier, CFA

Head of Corporate Credit and Investment Grade Credit

Michael V. Salm professional headshot

Michael V. Salm

Head of Broad Markets and Securitized Products

Anujeet Sareen, CFA professional headshot

Anujeet Sareen, CFA

Head of Brandywine Global Fixed Income

David Zahn, CFA, FRM professional headshot

David Zahn, CFA, FRM

Head of European Fixed Income and Sustainability

Sign in to view documents

Sign in to view documents

Embedded Risk Management

Risk is embedded in portfolio construction and reinforced by independent oversight, aligned with client objectives.

Risk embedded in portfolio construction

  • Positions sized based on conviction, diversification, and liquidity
  • Aligned with portfolio guidelines and risk constraints

Intentional and calibrated risk-taking

  • Risk taken deliberately within defined mandate and guidelines
  • Always within a disciplined, forward-looking framework

Independent risk oversight

  • Independent team provides objective oversight and challenge
  • Goal is not to eliminate risk, but to ensure it is intentional, understood, and aligned with long-term outcomes

Risk is

  • Recognized – Risks are identified and understood at the security, portfolio, and operational levels.
  • Rationalized – Risks are intentional and aligned with the portfolio's mandate and objectives.
  • Rewarded – Every risk taken is expected to offer the potential for commensurate long-term return.

Sign in to view documents

Sign in to view documents

Featured strategies

Our global fixed income platform spans markets and sectors, integrating specialized expertise across a wide range of capabilities. This breadth of perspective strengthens portfolio construction, supporting clear mandates, disciplined risk oversight, and defined roles within broader allocations. View all strategies >

 

Sign in to view documents

PSDYX

Putnam Ultra Short Duration Income Fund - Class Y

The fund seeks as high a rate of current income as the portfolio managers believe is consistent with preservation of capital and maintenance of liquidity by investing in a diversified portfolio composed of short-duration, investment-grade money market and other fixed income securities.

Learn More
PARYX

Putnam Short Duration Bond Fund - Class Y

The fund seeks as high a rate of current income as the portfolio managers believe is consistent with preservation of capital by investing in short-term bonds and other securities while generally maintaining an effective duration of three years or less.

Learn More
FLUD

Franklin Ultra Short Bond ETF

The fund seeks to provide a high level of current income as is consistent with prudent investing, while seeking to preserve shareholders' capital by primarily investing in bonds and investments that provide exposure to bonds. The fund targets an estimated average portfolio duration of one (1) year or less.

Learn More

Sign in to view documents

Insights

Showing 1-10 / 42 insights

[common.resultsHeading]

Franklin Templeton Thinks Franklin Templeton Fixed Income Fixed Income

On My Mind: The “Scarlet K”—A misleading consumption divergence story

May 6, 2026

The US outlook has been branded with a new scarlet letter: a K. The prevailing narrative describes a “K-shaped” economy overly reliant on consumption by high-income households. According to Franklin Templeton Fixed Income CIO Sonal Desai, that narrative is quite misleading. She notes that incomes have been rising broadly across the population and argues that the economy looks more resilient than the headlines suggest.

Franklin Templeton Fixed Income Fixed Income

Emerging markets update: Resilience through volatility

April 29, 2026

Although sentiment remains sensitive to headlines around the Strait of Hormuz and energy markets, Franklin Templeton’s Emerging Markets Debt team sees an asset class that has shown it can absorb shocks, even as renewed geopolitical flare-ups or a broader risk-off episode could still test markets.

Franklin Templeton Fixed Income Fixed Income

Research matters: The impact changing demographics has on the municipal bond market

April 27, 2026

Birth rates are falling and municipal bond credits are diverging according to Jennifer Johnston, Director of Municipal (Muni) Bond Research, Franklin Templeton Fixed Income. Find out what this means for investors in part one of this two-part muni credit research series.

Franklin Templeton Thinks Franklin Templeton Fixed Income Fixed Income

On My Mind: Geopolitical shock meets structural trends

April 23, 2026

The Iran conflict is the headline—but deglobalization and innovation are the story. Franklin Templeton Fixed Income CIO Sonal Desai shares her perspective on the two structural shifts that she believes matter most right now: retrenchment in globalization and accelerating innovation. Both point to higher yields—plus more volatility ahead.

Franklin Templeton Fixed Income Fixed Income

Private credit vs. public high yield: Understanding the tradeoffs

April 14, 2026

Private credit and public high yield can look similar on the surface, according to the Franklin Templeton Fixed Income high yield team. Both offer income and both carry credit risk. The bigger difference is how each market lets investors see price and manage that risk as conditions change.

Franklin Templeton Thinks Franklin Templeton Fixed Income Fixed Income

On My Mind: The $ is dead, long live the $

April 14, 2026

Franklin Templeton Fixed Income CIO Sonal Desai shares her perspective on the US dollar. She believes any recent weakness should be understood as cyclical rather than structural because the dollar’s dominance remains unchallenged, anchored by the United States’ economic scale, institutional credibility and unrivaled market depth.

Franklin Templeton Fixed Income Fixed Income

Municipal bond market monthly brief

April 9, 2026

Municipal bonds faced a choppy March as rising rates and heavy supply weighed on returns. With yields elevated and relative value attractive, the Franklin Templeton Municipal bond team feels municipals continue to offer compelling investment opportunities.

Franklin Templeton Fixed Income Fixed Income

Central Bank Watch: On edge—hold, hike or hedge?

April 1, 2026

Amid heightened geopolitical and energy-driven inflation risks, central banks in North America are expected to stay on hold while those in Europe and Asia are poised to react if pressures persist, according to Franklin Templeton Fixed Income.

Franklin Templeton Fixed Income Fixed Income

Macro Views: AI tailwinds, geopolitical headwinds

March 23, 2026

Growth is holding up across major economies, according to the Franklin Templeton Fixed Income team, but geopolitics and energy prices are raising inflation risks. Policy remains the key swing factor, with central banks potentially diverging. Find out more in the latest FTFI Macro Views.

Franklin Templeton Fixed Income Fixed Income

Middle East escalation: Market impact and emerging market implications

March 18, 2026

As the Middle East conflict causes widespread uncertainty for global financial markets, this paper offers a guide to the potential duration of volatility and the different impacts likely for emerging markets in the region and around the world.

Important Information

All investments involve risk, including possible loss of principal. Please see each product's web page for specific details regarding investment objective, risks, performance, and other important information. Review this information carefully before you make any investment decision. There is no guarantee that any strategy will achieve its objective.

This material is intended to be of general interest only and should not be construed as individual investment advice or a recommendation or solicitation to buy, sell or hold any security or to adopt any investment strategy.  It does not constitute legal or tax advice.

Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.

ETFs trade like stocks, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and expenses will reduce returns. There is no guarantee that any strategy will achieve its objective.

Separately Managed Accounts (SMAs) are investment services provided by Franklin Templeton Private Portfolio Group, LLC (FTPPG), a federally registered investment advisor. Client portfolios are managed based on investment instructions or advice provided by affiliated subadvisors of Franklin Templeton. Management is implemented by FTPPG, the designated subadvisor or, in the case of certain programs, the program sponsor or its designee.

Putnam funds are not exchangeable for funds distributed by Franklin Distributors, LLC.

Franklin Distributors, LLC. Member FINRA/SIPC. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.

Sign in to view documents