Franklin Templeton

Franklin Templeton is launching an Africa fund for veteran investor Mark Mobius, making it the latest fund group to test investor appetite for the world's second-largest continent.

Franklin Templeton is to close two of its UK OEICs and merge away two others following a review of its UK domiciled fund range.

Franklin Templeton's emerging market heavyweight Mark Mobius has blamed the flood of initial public offerings (IPOs) in emerging markets during 2010 for EM stocks' underperformance last year.

COULD IRELAND BE THE RECOVERY PLAY OF 2012?

HUNGARY

Credit ratings agency Fitch has cut Hungary's long-term foreign and local currency debt to junk status, following a tumultuous week for the country.

Franklin Templeton Investments' Michael Hasenstab has defended his Hungarian debt position amid reports the group owns 10% of the country's local bond market.

Hungarian bond yields soared above 10% yesterday after the government cancelled a bond swap auction, increasing fears the country will be the first in the EU to default on its debt.

Around 10% of Hungary's local bond market is owned by Franklin Templeton Investments, according to reports.

James Murdoch has been re-elected as chairman of beleaguered media group BSkyb despite calls from fund management groups for his resignation.