It has been reported that US investment company, Franklin Templeton, was the biggest single overseas buyer during the sale of Irish debt by the National Treasury Management Agency in July this year. Reports state that the California-based investment management firm added between €1.5bn and €2bn worth of the latest sale of Irish government bonds to its overall portfolio. Michael Hasenstab, senior vice president, portfolio manager and co-director of the international bond department for Franklin Templeton Fixed Income Group is reported to have stated that Ireland has strong economic fundamentals and two key competitive advantages, a skilled labour force and a business-friendly regulatory and tax environment.