Templeton Global Bond Fund
Actively managed global bond fund
As of its 2026 Q2 report, Templeton Global Bond Fund held 63 positions with $2.98B in net assets. Its ten largest holdings made up 56.2% of the fund. The TPINX share class costs 1.02% a year. Over the 12 months to May 2026, TPINX returned 7.7%, with dividends reinvested. In 2026 Q2 it added no new positions and exited 7.
Current income with capital appreciation and growth of income.
The fund invests at least 80% of its net assets in bonds issued by governments, government-related entities, and government agencies worldwide, focusing on investment-grade issues but permitting up to 25% in below-investment-grade bonds. The manager allocates assets based on assessment of interest rates, currency movements, and credit risks, and regularly uses currency forwards, options, and derivatives including interest rate swaps and credit default swaps to hedge, enhance returns, or gain exposure to selected currencies, rates, and credit risks. As a non-diversified fund, it invests a greater portion of assets in one or more issuers and overall in fewer issuers than a diversified fund, creating concentration risk. The fund may maintain large cash positions and will fluctuate its portfolio duration based on the manager's outlook on market and economic conditions.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
INFXXFranklin Institutional U.S. Government Money Market Fund | 20.31% | $605.23M | — |
Federation of Malaysia 3.90% · due 2027-11-16 | 5.75% | $171.37M | — |
Federative Republic of Brazil 10.00% · due 2031-01-01 | 5.14% | $153.22M | — |
Republic of India 7.26% · due 2032-08-22 | 4.75% | $141.61M | — |
Kingdom of Norway 1.75% · due 2027-02-17 | 4.61% | $137.41M | — |
Queensland Treasury Corp. 1.75% · due 2034-07-20 | 3.95% | $117.58M | — |
Oriental Republic of Uruguay 3.88% · due 2040-07-02 | 3.23% | $96.22M | — |
Treasury Corp. of Victoria 2.00% · due 2037-11-20 | 3.09% | $92.17M | — |
Republic of South Africa 9.00% · due 2040-01-31 | 2.79% | $83.28M | — |
Republic of Panama 6.40% · due 2035-02-14 | 2.54% | $75.56M | — |
All 63 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 77.75% |
| Cash & short-term | 20.46% |
| Derivatives | -1.02% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
How it has done
TPINX share class · total returns with dividends reinvested
Volatility over the last 12 months: 7.77%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 5 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 1.02% | +7.71% | +9.94% | -1.97% | -12.03% | |
| 1.42% | +7.36% | +8.65% | -3.82% | -12.26% | |
| 0.77% | +7.88% | +10.69% | -0.73% | -12.03% | |
| 1.27% | +7.44% | +9.11% | -3.18% | -12.17% | |
| 0.61% | +8.20% | +11.35% | +0.06% | -11.89% |
These classes hold the same portfolio, so the 3.88pp spread over 5 years is the cost difference between them — roughly 0.78pp a year — not a difference in what they own.
Fees & fund details
Templeton Global Bond Fund is an actively managed global bond fund.
- Asset class
- Bonds
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Mixed credit
- Rate sensitivity
- Intermediate duration
- Features
- Non-diversified
- Expense ratio, by class
- 0.61% – 1.42%· TPINX 1.02%
- Portfolio turnover
- 23.19% a year · as of 2026 Q2
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
0 new
7 exited· the largest 2
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 7.8% |
| 1-3y | 14.5% |
| 3-5y | 8.9% |
| 5-10y | 43.0% |
| 10y+ | 25.8% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying nearly as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 50% |
| Credit spreads | 50% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +2.43 yr |
| High yield | +1.84 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.02 yr | 0% |
| 1 yr | 0.20 yr | 5% |
| 5 yr | 1.44 yr | 34% |
| 10 yr | 2.28 yr | 53% |
| 30 yr | 0.34 yr | 8% |
| 3 mo | 0.02 yr | 0% |
| 1 yr | 0.20 yr | 5% |
| 5 yr | 1.45 yr | 34% |
| 10 yr | 2.26 yr | 53% |
| 30 yr | 0.34 yr | 8% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.02 | +0.02 | +0.00 | $5.4k | $0 |
| 1 yr | +0.20 | +0.15 | +0.05 | $45.4k | $14.9k |
| 5 yr | +1.44 | +0.91 | +0.54 | $272.3k | $160.9k |
| 10 yr | +2.28 | +1.31 | +0.95 | $391.0k | $282.2k |
| 30 yr | +0.34 | +0.03 | +0.30 | $9.5k | $90.4k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 4.28 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
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