On the lookout for an International Bond – Developed fund? Starting with Templeton Global Bond A (TPINX) should not be a possibility at this time. TPINX holds a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on various forecasting factors like size, cost, and past performance.

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The world of International Bond – Developed funds is an area filled with different choices, like TPINX. International Bond – Developed funds focus on fixed income securities from developed nations besides the United States. This usually results in countries like Japan, Germany, the UK, France, and Australia dominating the list of top holdings. Funds here offer geographic diversification, but they can also introduce currency risk into the picture as well.

Franklin is based in San Mateo, CA, and is the manager of TPINX. Templeton Global Bond A made its debut in September of 1986, and since then, TPINX has accumulated about $1.62 billion in assets, per the most up-to-date date available. The fund’s current manager, Michael Hasenstab, has been in charge of the fund since January of 2001.

Investors naturally seek funds with strong performance. TPINX has a 5-year annualized total return of -3.73% and is in the bottom third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of -3.5%, which places it in the bottom third during this time-frame.

It is important to note that the product’s returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund’s [%] sale charge. If sales charges were included, total returns would have been lower.

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When looking at a fund’s performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Over the past three years, TPINX’s standard deviation comes in at 12.11%, compared to the category average of 13.13%. Looking at the past 5 years, the fund’s standard deviation is 9.6% compared to the category average of 13.84%. This makes the fund less volatile than its peers over the past half-decade.

TPINX carries a beta of 0.92, meaning that the fund is less volatile than a broad market index of fixed income securities. With this in mind, it has a negative alpha of -3.06, which measures performance on a risk-adjusted basis.

Investors should also consider a bond’s rating, which is a grade ( ‘AAA’ to ‘D’ ) given to a bond that indicates its credit quality. With this letter scale in mind, TPINX has 40.3% in high quality bonds rated at least ‘AA’ or higher, while 39.7% are of medium quality, with ratings of ‘A’ to ‘BBB’. The fund has an average quality of A, and focuses on high quality securities.

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