Mystery American bets billions on Ireland’s economic turn around

California investor takes massive $7.2 billion gamble on Irish bonds

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A mystery American who leads an American hedge fund has gambled up to $7.2 billion on Ireland’s economic recovery

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Hasenstab’s team of research analysts control more than $165 billion in assets, including the $57 billion Templeton Global Bond Fund.

When most investors dumped Irish bonds last summer – after a junk status rating by the Moodys agency – Hasenstab and his team bought heavily.

Public figures say his team’s investment in Ireland stands at $2.5billion but insiders say the company may own up to $7.2billion of Irish stock with more again invested in Hungary.

The Irish bonds have already rallied more than 35 per cent from last summer.

Dublin traders noticed a big buyer coming into the Irish government bond market late in the second quarter of last year and into the third.
 

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