Franklin Templeton’s Michael Hasenstab has lost $3 billion on his Ukrainian bond purchases as the value of the securities collapsed as the conflict with pro-Russian rebels deepened an economic recession.
Michael Hasenstab is reportedly Ukraine’s biggest private creditor as he owns about half of Ukraine’s international bonds.
Michael Hasenstab loaded up over $7 billion Ukraine bonds
Michael Hasenstab’s fund has historically outperformed markets and his peers. However, he won’t be feeling so princely about his bet on Ukraine any more.
Boris Korby and Charles Stein of Bloomberg highlight...
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