Fund Description

The fund seeks current income with capital appreciation and growth of income, by investing at least 80% of its net assets in bonds of governments, government related entities and government agencies located anywhere in the world. The fund regularly enters into various currency-related and other transactions involving derivative instruments.

Strategy Statement

"We search the world for investment opportunities in currencies, interest rates and sovereign credit that can offer attractive potential returns and additional portfolio diversification. "

Michael Hasenstab, Ph.D

Management

Michael Hasenstab, Ph.D

Michael Hasenstab, Ph.D

  • Joined Franklin Templeton in 1995
  • Managed Fund Since 2001
Sonal Desai, Ph.D

Sonal Desai, Ph.D

  • Joined Franklin Templeton in 2009
  • Managed Fund Since 2011

INVESTMENT PHILOSOPHY, STRATEGY AND APPROACH

Investment Philosophy

We believe that applying a fundamental, research-driven approach focused on identifying potential sources of total return (current income and capital appreciation) worldwide and seeking to capitalize on global interest rates and currency trends provides the best potential for solid risk-adjusted returns. The strategy is run independently of its benchmark, allowing the manager to hold only the positions it believes have the best potential to maximize risk-adjusted returns. This is a high alpha seeking strategy that invests globally and may include allocations to both developed and emerging markets.

Investment Strategy

Long-Term, Opportunistic Value Approach

  • Long-term, fundamentally driven investment focus
  • Total return approach that is not benchmark driven
  • Identify economic imbalances that may lead to value opportunities in:
    • Interest rates (duration)
    • Currencies
    • Sovereign credit
  • Active positioning across these areas
    • Precisely isolate desired exposures
    • Risk budget composition will shift based on relative attractiveness during global economic and credit cycles

Rating

Overall Morningstar Rating As of 11/30/2018

Rating Category: World Bond

Morningstar
The fund's overall Morningstar Rating measures risk-adjusted returns and is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics.

Historical Morningstar Rating As of 11/30/2018

Years Ratings Funds
in category
3
3 Stars
261
5
4 Stars
247
10
4 Stars
136

Morningstar Style Box

We do not publish a style box for this fund.

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