The large holding of Irish government bonds – estimated by some at 10% of the market – held by Franklin Templeton’s Michael Hasenstab has raised eyebrows among his fellow bond managers, according to a survey out today; with some suggesting he moved the Irish market significantly in the past year.

S&P Capital IQ, which interviews fund managers and grades funds, spoke to 44 fund managers in the fourth quarter of last year, as Hasenstab's large position hit the headlines. S&P said: "Hasenstab was widely reported to own around 10% of the outstanding Irish sovereign debt… some managers felt his aggressive purchasing of the bonds was the reason behind Ireland's good performance in 2012."