US money manager who backed Ireland ups stake in Ukraine

Michael Hasenstab

Donal O'Donovan

A fund, controlled by bond investors famous for their huge punt on Ireland during the crisis, increased its investment in Ukraine this year, as the country hovered on the brink of civil war.

The New York Stock Exchange traded fund Templeton Global Income Fund, which is managed by Franklin Templeton, raised the share of its $1bn (€800m) of funds under management that are invested in Ukrainian bonds from 2.1pc at the end of December to 4.9pc, or €39m, at the end of March, according to official filings.