Fund Evaluator:
Templeton Global Bond Enhanced A (TGTRX)
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Fund Details
Templeton Global Bond Enhanced A Overview
Templeton Global Bond Enhanced A (TGTRX) is an actively managed Taxable Bond Nontraditional Bond fund. Franklin Templeton Investments launched the fund in 2008.
The investment seeks total investment return consisting of a combination of interest income, capital appreciation, and currency gains. Under normal market conditions, the fund invests at least 80% of its net assets in “bonds,” including derivative instruments or other investments that have economic characteristics similar to bonds. The fund invests primarily in fixed and floating rate debt securities and debt obligations (including convertible bonds) of governments, government agencies and government-related issuers worldwide, including supranational entities (collectively, “bonds”). The fund is non-diversified.
About Templeton Global Bond Enhanced A (TGTRX)
There are 2 members of the management team with an average tenure of 12.80 years: Calvin Ho (2018), Michael Hasenstab (2008). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg Global Aggregate TR USD index with a weighting of 100% and Bloomberg Multiverse TR USD index with a weighting of 100%. Templeton Global Bond Enhanced A has 157 securities in its portfolio. The top 10 holdings constitute 46.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Templeton Global Bond Enhanced A is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Templeton Global Bond Enhanced A has 83.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 90.0% (6.5% domestic bond, 83.5% foreign bond and 0.0% convertible bond). Templeton Global Bond Enhanced A has 10.0% of the portfolio in cash.
Assets Under Management
The fund has $104 million in total assets, which is below the $667 million average for the Nontraditional Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
TGTRX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Templeton Global Bond Enhanced A expense ratio is high compared to funds in the Nontraditional Bond category. Templeton Global Bond Enhanced A has an expense ratio of 1.23%, which is 14% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Templeton Global Bond Enhanced A has a portfolio turnover rate of 35%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 306% for the Nontraditional Bond category.
Recently, in the month of August 2026, Templeton Global Bond Enhanced A returned 1.6%, which earned it a grade of A, as the Nontraditional Bond category had an average return of 0.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Templeton Global Bond Enhanced A has a trailing yield of 7.10%, which is above the 4.93% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Templeton Global Bond Enhanced A Grades
Year to date, the fund has returned 6.1%, 4.3 percentage points better than the category, which translates into a grade of A. The fund has returned 10.6% over the past year (grade of A), 7.9% over the past three years (grade of A) and 1.1% per year over the past five years (grade of D) and 1.1% per year over the past 10 years (grade of F).
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TGTRX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TGTRX Return (NAV) | 1.6% | 3.3% | 10.6% | 7.9% | 1.1% | 1.1% |
| TGTRX Grade | A | A | A | A | D | F |
| +/- Category | 1.1% | 2.9% | 6.7% | 2.1% | -1.4% | -2.0% |
| Nontraditional Bond Avg | 0.5% | 0.5% | 3.9% | 5.8% | 2.5% | 3.1% |
| TGTRX Tax Cost Ratio | na | na | 2.9% | 2.4% | 2.5% | 2.3% |
TGTRX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TGTRX Return (NAV) | 6.1% | 20.4% | -6.7% | 5.9% | -12.5% | -5.4% | -5.8% | 1.8% | 1.7% | 2.8% | 8.4% |
| TGTRX Grade | A | A | F | D | F | F | F | F | A | D | B |
| +/- Category | 4.3% | 13.6% | -12.2% | -0.6% | -6.5% | -6.7% | -11.3% | -4.8% | 2.5% | -1.2% | 2.0% |
| Nontraditional Bond Avg | 1.8% | 6.8% | 5.4% | 6.5% | -6.0% | 1.3% | 5.4% | 6.5% | -0.8% | 4.1% | 6.4% |
| Risk Measures | |
| Standard Deviation: | 10.1% |
| Total Risk Index: | 0.83 - Average |
| Category Risk Index: | 2.84 - High |
| Category Risk Grade: | F (100% Rank) |
| Beta: | 1.38 |
| R-Squared: | 58% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 7.1% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $227 Mil |
| Fund Total Assets: | $ 104 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 36% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 17.9 years | |||
| Average Tenure: 12.8 years | |||
| Managers (Year): Hasenstab Michael (2008), Ho Calvin (2018) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 157 |
| % in Top 10 Holdings: | 46.8% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 83.5% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 6.5% |
| Foreign Bond: | 83.5% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 10.0% |
Purchase Information
| Fund Family: | Franklin Templeton Investments |
| Phone Number: | 800-632-2301 |
| Website: | www.franklintempleton.com |
| Status: | Open |
| Inception Date: | September 30, 2008 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 250 |
| True No-Load: | No |
| Front Load Maximum: | 3.75% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.23% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.42% |
| Share Class: | Templeton Global Bond Enhanced Adv |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
