Franklin Templeton has handed a raft of new fund roles to Sonal Desai as she prepares to assume the role of chief investment officer of its $157 billion (£123 billion) bond division.
Desai, who replaces Chris Molumphy in the role on 31 December, will step off all funds she co-runs with Michael Hasenstab and assumes several new portfolio manager responsibilities.
This sees her relinquish the Templeton Emerging Markets Bond, Templeton Emerging Markets Local Currency Bond, Templeton Global Balanced, Templeton Global Bond, Templeton Global Currency, Templeton Global High Yield and Templeton Global Fundamental Strategies funds.
Desia is replaced in every instance by Calvin Ho, who will assume the role of director of research for Templeton Global Macro. Hasenstab is currently lead portfolio manager on all eight funds but has several co-managers.
In her new capacity, Desai will move across to work on several new funds, which includes replacing the retiring Chris Molumphy in the team overseeing the Franklin Strategic Income fund.
Elsewhere, Desai will join David Zahn and Rod MacPhee on the Franklin Euro Short Duration Bond fund, while working alongside Zahn and John Beck on both the Franklin European Total Return and Franklin Global Aggregate Bond funds.
She will also be assigned to the Franklin Flexible Alpha Bond fund with David Yuen and Michael Materasso and work with Bayston, Burns and Yuen on the Franklin US Low Duration fund. The company is awaiting regulatory approval before she joins Beck and Zahn on the Euro Government Bond fund.