{"id":4801,"date":"2017-10-27T19:06:49","date_gmt":"2017-10-28T00:06:49","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4668"},"modified":"2022-03-22T12:44:08","modified_gmt":"2022-03-22T17:44:08","slug":"hurricane-maria-mutual-fund-company-franklin-resources-sells-hundreds-millions-dollars-puerto-rico-bonds","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/hurricane-maria-mutual-fund-company-franklin-resources-sells-hundreds-millions-dollars-puerto-rico-bonds\/","title":{"rendered":"After Hurricane Maria, Mutual Fund Company Franklin Resources Sells Hundreds of Millions of Dollars of Puerto Rico Bonds"},"content":{"rendered":"<p>\t\t\t\tAccording to <em>The Wall Street Journal<\/em>, Franklin Resources Inc. (BEN), has sold hundreds of millions of dollars of Puerto Rico bonds in the wake of the devastation of Hurricane Maria. This includes Franklin Mutual Advisers LLC&#8217;s decision to sell its $294 million stake in the U.S. territory\u2019s general obligation bonds.  <\/p>\n<p>Franklin, also known as Franklin Templeton, is the second largest holder of Puerto Rico bonds among mutual funds. <a href=\"https:\/\/www.investorlawyers.com\/oppenheimer-co-background-information\">OppenheimerFunds (OPY)<\/a> is the largest. <\/p>\n<p><em>The Wall Street Journal<\/em> said that Franklin is not the only one trying to get rid of its Puerto Rico bonds. According to sources, a \u201cswath of mutual funds and hedge funds\u201d have finally given up on the island\u2019s securities, too. For example, Merced Capital and Varde Funds sold their $172 million in Puerto Rico municipal bonds to other bondholders.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/hurricane-maria-mutual-fund-company-franklin-resources-sells-hundreds-millions-dollars-puerto-rico-bonds\/#more-4801\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to The Wall Street Journal, Franklin Resources Inc. (BEN), has sold hundreds of millions of dollars of Puerto Rico bonds in the wake of the devastation of Hurricane Maria. This includes Franklin Mutual Advisers LLC&#8217;s decision to sell its $294 million stake in the U.S. territory\u2019s general obligation bonds. Franklin, also known as Franklin [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3922,4039,3741],"tags":[],"class_list":["post-4801","post","type-post","status-publish","format-standard","hentry","category-municipal-bonds","category-puerto-rico-bond-funds","category-securities-fraud"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>After Hurricane Maria, Mutual Fund Company Franklin Resources Sells Hundreds of Millions of Dollars of Puerto Rico Bonds &#8212; Investor Lawyers Blog &#8212; October 27, 2017<\/title>\n<meta name=\"description\" content=\"According to The Wall Street Journal, Franklin Resources Inc. (BEN), has sold hundreds of millions of dollars of Puerto Rico bonds in the wake of the &#8212; October 27, 2017\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/hurricane-maria-mutual-fund-company-franklin-resources-sells-hundreds-millions-dollars-puerto-rico-bonds\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"After Hurricane Maria, Mutual Fund Company Franklin Resources Sells Hundreds of Millions of Dollars of Puerto Rico Bonds &#8212; Investor Lawyers Blog &#8212; October 27, 2017\" \/>\n<meta name=\"twitter:description\" content=\"According to The Wall Street Journal, Franklin Resources Inc. (BEN), has sold hundreds of millions of dollars of Puerto Rico bonds in the wake of the &#8212; October 27, 2017\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"After Hurricane Maria, Mutual Fund Company Franklin Resources Sells Hundreds of Millions of Dollars of Puerto Rico Bonds &#8212; Investor Lawyers Blog &#8212; October 27, 2017","description":"According to The Wall Street Journal, Franklin Resources Inc. 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