F&C Multi Manager Team add Templeton Global Total Return

F&C's Multi Manager Team have added Templeton Global Total Return to the F&C Multi Manager Cautious Fund, accounting for some 3.8% of the portfolio.

The Team funded the purchase by trimming a number of existing absolute return holdings and reducing their position in Old Mutual's Global Strategic Bond Fund, with the remainder coming from cash.

Fund Manager Paul Carne commented: "This move further increases our overseas bond exposure within the portfolio with the fund sitting alongside the likes of Old Mutual Global Strategic Bond, Fidelity US High Yield and PIMCO Global High Yield. This impressive offering invests globally in government, supranational and corporate debt across all rating spectrums."