Franklin Templeton’s Sonal Desai has been appointed to a raft of funds as a result of her recent appointment as chief investment officer of the firm’s fixed income group.
As a result of this new position, she will leave her current role as director of research for Templeton Global Macro, which will be taken by Calvin Ho.
The change also means Desia will come off a number of funds that sit within the global macro group and will be appointed to a number of funds that sit within the fixed income unit. The latter funds are:
- Franklin Strategic Income ($5.4 billion)
- Franklin Total Return ($4.1 billion)
- Franklin Low Duration Total Return ($2.9 billion)
- Franklin Strategic Income VIP ($455.7 million)
- Franklin Flexible Alpha Bond ($414.6 million)
On all of Desai’s new fund appointments, she is to replace Molumphy, with the exception of the Franklin Alpha Bond fund, on which he was not a named manager.
In the addition to the funds listed above, Molumphy was a named manager on the $3.1 billion Franklin High Income fund and the $1.5 billion Templeton Global Balanced fund.
Desai has not been added to these funds, the former of which will continue to be managed by Glenn Voyles, and the latter by Heather Arnold, Norm Boersma and Michael Hasenstab.
Ho is to replace Desai on a number of funds. These are:
- Templeton Global Bond ($35.1 billion)
- Templeton Global Total Return ($5.2 billion)
- Templeton International Bond ($401.8 million)
- Templeton Global Bond VIP ($49.7 million)
- Templeton Global Currency ($35.3 million)
- Templeton Emerging Markets Bond ($34.3 million)
‘Given Sonal Desai’s extensive investment expertise in global macroeconomic analysis, interest rates, currency and sovereign credit, she will be added as a portfolio manager to several Franklin Templeton fixed income group strategies focused on multi-sector and global sovereign exposure, most notably the total return, strategic income, absolute return and global fixed income strategies,’ a Franklin Templeton spokeswoman said.
Ho is to take on the role of director of research for Templeton Global Macro at the end of the year and will report directly to Hasenstab, who is chief investment officer of Templeton Global Macro. Ho is currently deputy director of research and works closely with Desai and Hasenstab.
Desai also replaced Molumphy on the firm’s executive committee, which is a group of the firm’s leaders who are responsible for its overall strategy. The committee includes Hasenstab, CIO of Franklin Templeton Multi-Asset Solutions Ed Perks, and head of equities Stephen Dover.
Desai joined Franklin Templeton in 2009 from Thames River Capital where she had been an economist.