Month: May 2017

BOSTON, May 24, 2017 – Putnam Investments announced today that the firm will be launching several mutual funds later this summer that bring to bear three different alternative strategies designed to provide financial advisors and their clients with an array of modern portfolio construction tools to help navigate changing market conditions. The funds will be sub-advised by PanAgora Asset Management and are expected to be available in the marketplace in the third quarter of this year.

The new funds will offer three important and distinct investment approaches:

• Putnam PanAgora Risk Parity Fund — seeks total return under varying economic conditions through strategic allocation across asset classes
• Putnam PanAgora Market Neutral Fund — pursues uncorrelated alpha by investing in long/short equity strategies
• Putnam PanAgora Managed Futures Fund — seeks absolute return through a managed futures strategy that is designed to provide meaningful diversification to traditional asset classes

PanAgora Asset Management, a Boston-based affiliate of Putnam, has built a strong reputation in the institutional marketplace for managing a host of well-regarded strategies using a disciplined, systematic approach to investing.

“We have entered an era when the marketplace increasingly understands the need for innovative investment approaches. These three new products will give mutual fund investors and their advisors access to strategies that have been used successfully by the institutional market for many years,” said Robert L. Reynolds, President and Chief Executive Officer, Putnam Investments. “In broadening its slate of alternative offerings, Putnam will be bringing the specialized investment capabilities of our affiliate, PanAgora Asset Management, to our clients.”

In discussing the underlying needs — and demand — driving the launch, Scott C. Sipple, Head of Global Investment Strategies at Putnam Investments, said, “Continuing volatility in the financial markets and a changing risk-benefit equation have driven financial advisors to think about portfolio construction in new and different ways, including utilizing components that help solve some of the more vexing challenges that investors face. These additions to the Putnam fund lineup will bring a new dimension and provide an opportunity for clients to advance a range of objectives.”

Sipple indicated that the new funds will each bring a differentiated strategy to the market:

• Putnam PanAgora Risk Parity Fund is a systematic multi-asset solution that seeks to balance the fund’s portfolio risks and generate more stable returns and greater downside protection than other, more traditional multi-asset approaches. The fund seeks to participate in economic growth by allocating to equities, to preserve capital during economic contraction by allocating to nominal fixed income, and to protect from inflation with commodities and inflation-linked bonds. PanAgora Asset Management is a pioneer thought leader in risk parity. The PanAgora Risk Parity Multi-Asset strategy was incepted in 2006 for the institutional marketplace.
• Putnam PanAgora Market Neutral Fund is a systematic long/short global equity market neutral strategy that seeks to generate attractive absolute returns (that are uncorrelated to general equity markets) by identifying and exploiting multiple inefficiencies that exist in global markets. The fund will pursue a similar approach as the PanAgora Diversified Arbitrage strategy, which was incepted in 2010 for the institutional marketplace.
• Putnam PanAgora Managed Futures Fund seeks absolute return through a managed futures strategy that is designed to provide meaningful diversification to traditional asset classes. The fund utilizes systematic long/short exposure to liquid futures and forwards across commodities, equities, fixed income and currencies. PanAgora has a long history in implementing multi-asset portfolios using managed futures designed to capture risk and factor premia.

About PanAgora Asset Management

Founded in 1989, PanAgora Asset Management is a premier provider of institutional investment solutions, including alternatives, risk premia and active strategies, spanning all major asset classes and risk ranges. The firm’s client base comprises institutional clients across the globe, such as sovereign wealth & pension funds, sub-advisory, public & private retirement funds, and endowments & foundations. For more information, visit www.panagora.com.

About Putnam Investments

Founded in 1937, Putnam Investments is a global money management firm with 80 years of investment experience. At the end of April 2017, Putnam had $162 billion in assets under management. Putnam has offices in Boston, London, Frankfurt, Tokyo, Singapore and Sydney. For more information, visit putnam.com.

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BOSTON, May 3, 2017 – Putnam Investments today announced that Katherine Collins has joined the firm as Head of Sustainable Investing. In this role, Collins will be responsible for overseeing the firm’s environmental, social and governance (ESG) investment approach, which is expected to include managing focused strategies for institutional and retail mutual fund clients and driving overall thought leadership on a topic of increasing interest to the marketplace. She will report directly to Aaron Cooper, Putnam’s Chief Investment Officer, Equities.

Collins joins Putnam at a time when the company is further expanding its sustainable investing capabilities to collaborate with and provide valuable insight to the firm’s fundamental research team, assist in the development and management of new investment strategies, inform clients of current and emerging trends and analysis, and spearhead the firm’s overall work on an array of global investment initiatives and goals in this area. Previously, Collins was CEO of Honeybee Capital, a research firm focused on ESG investment issues.

Putnam’s efforts moving forward in the ESG arena will be driven by a new sustainable investing team, led by Collins, and which will also include Stephanie Henderson, a fundamental analyst who has joined the firm from Fidelity Investments, and Alexander Rickson, a Putnam veteran who will be providing quantitative analysis.

“Investing through the lens of environmental, social, and governance is redefining what asset management can accomplish. It is a concept that is becoming increasingly synonymous with good long-term investing and is serving to help identify opportunities,” said Robert L. Reynolds, Putnam’s President and Chief Executive Officer. “Katherine’s proven leadership and expertise will ensure we continue to move to the forefront of this rapidly growing field.”

In discussing Collins’ appointment, Cooper added, “Katherine has become one of the deans of ESG investment thinking, with a nearly three-decade history of bringing intellectual curiosity, innovation and true passion to her acclaimed work in this space. We expect our clients will benefit from Putnam’s insights on an array of important sustainable investing components, such as climate impact, diversity, and stakeholder alignment, as well as from thoughtful investment strategies that can be deployed in this area in the future.”

About Katherine Collins

Prior to joining Putnam, Collins was the founding chief executive officer of Honeybee Capital, a research firm focused on ESG investment issues, with particular emphasis on application of biomimicry and complex adaptive systems to investing. She is the author of The Nature of Investing, which established a framework for realigning investment practice with natural systems science and principles of resilience and regeneration.

Earlier, Collins worked for Fidelity Management and Research Company from 1990 to 2008. Her roles included serving as Portfolio Manager for the Fidelity America Funds, where she launched a pilot investment fund with a sustainable and socially responsible mandate, as well as having been Director of Equity Research and portfolio manager for the Fidelity MidCap Funds.

Long active in community circles, Collins is currently on the Board of Trustees of the Santa Fe Institute and Board Chair at Last Mile Health. She holds a master’s degree in Theological Studies from Harvard Divinity School and a B.A. degree with honors in Economics and Japanese Studies from Wellesley College. She also completed an intensive course of study with the Biomimicry 3.8 organization and holds the Chartered Financial Analyst designation.

About Stephanie Henderson

Henderson joined Putnam from Fidelity Investments, where she had been a member of the investment team since 2011, most recently as an Equity Research Analyst covering financials. She is also partner and member of the Investment Committee at Social Venture Partners, helping to select Boston non-profits to receive grants. Henderson graduated magna cum laude from Middlebury College.

About Alexander Rickson

Rickson is a Quantitative Analyst who has been in the investment industry since 2000 and with Putnam since 2002. He is a member of the UK Society of Investment Professionals, and holds a Chartered Financial Analyst designation, as well as an Investment Management Certificate. Rickson graduated from University of Sheffield in England.

About Putnam Investments

Founded in 1937, Putnam Investments is a global money management firm with nearly 80 years of investment experience. At the end of March 2017, Putnam had $160 billion in assets under management. Putnam has offices in Boston, London, Frankfurt, Tokyo, Singapore and Sydney. For more information, visit putnam.com.

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