Putnam Investments to Create Suite of Sustainable Retirement Target-Date Funds

BOSTON, May 26, 2022 – Putnam Investments today announced that the firm will reposition its Putnam RetirementReady® Funds target-date series as the Putnam Sustainable Retirement Funds, employing sustainability-focused or environmental, social and governance (ESG) principles and strategies.

Putnam Sustainable Retirement Funds will offer vintages ranging every five years from 2025 to 2065, along with a maturity fund, and will invest in active exchange-traded funds (ETFs) advised by Putnam. The new ESG-focused target-date series is expected to be available in the coming months.

“Putnam Sustainable Retirement Funds will combine our commitment to two of our firm’s key focus areas in the marketplace — sustainable investing and helping individuals prepare for retirement,” said Robert L. Reynolds, President and Chief Executive Officer, Putnam Investments. “We are excited to offer access to sustainable investment strategies within a target-date format, which continues to be a preferred investment vehicle for millions of working Americans saving for retirement.”

Reynolds explained that the firm also offers a second target-date series, the Putnam Retirement Advantage suite. “We think there is tremendous value in offering clients a variety of investment strategies and approaches when addressing their financial goals, including attaining a dignified retirement,” he said.

Putnam has been building out its sustainable investing efforts and related investment offerings since 2017. The firm launched two ESG-focused mutual funds a year later and introduced its first sustainable portfolios in an active ETF format in May 2021.

“There is growing interest in ESG investing among a wide array of clients and investors, and we believe this is an optimal time to introduce our own brand of sustainable investing to the defined contribution marketplace,” said Steven P. McKay, Head of Global Defined Contribution Investment Only. “We look forward to providing more detail on the composition and glide path of this innovative new target-date series as we move ahead.”

About Putnam Investments

At the end of April 2022, Putnam had $180 billion in assets under management. Putnam has offices in Boston, London, Munich, Tokyo, Singapore, and Sydney. For more information, visit putnam.com.


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Putnam Investments’ Sumedh Mehta Honored as Chief Information Officer of the Year

BOSTON, May 25, 2022 – Putnam Investments today congratulated Sumedh Mehta, the firm’s Chief Information Officer and a member of its Operating Committee, on being named a winner of BostonCIO’s 2022 CIO of the Year® ORBIE® Award. For nearly 25 years, the CIO of the Year ORBIE Awards have recognized technology executives for outstanding leadership.

The ORBIE Award winners are selected by an independent peer review process led by prior recipients of the awards. The awards honor CIOs who have demonstrated excellence in technology leadership and management effectiveness, generated business value through technology innovation and engaged in industry and community activity.

“Putnam has always sought to be at the forefront of industry technology and innovation, evolving over time to meet the changing needs of our clients and the marketplace,” said Robert L. Reynolds, President and Chief Executive Officer, Putnam Investments. “Under Sumedh’s leadership, our firm has moved boldly to embrace and execute a wide-sweeping digital transformation.

“He is a worthy recipient of the CIO of the Year ORBIE Award, and on behalf of our entire firm, I wholeheartedly congratulate him,” Reynolds noted.

Since joining Putnam in 2015 as its CIO, Mehta has been responsible for modernizing all aspects of the company’s systems infrastructure and application development. He led the firm’s adoption of digital technologies across multiple business lines and operations on three continents to meet the evolving needs of clients and the overall organization.

Importantly, the technology work has enabled the firm’s investment teams to bring new products, such as active ETFs, to market in record time using cloud computing. In addition, the development of automation has improved Putnam’s efficiency and allowed the company to better deploy resources to meet strategic objectives.

In addition to playing a vital leadership role within Putnam, Mehta has been deeply involved in professional and community activities in the Greater Boston area. In particular, he has been involved with the area’s growing financial technology industry, including serving as a founding member of the nonprofit MassChallenge FinTech advisory board and leading the development of the Fintech Exchange as part of the FinTech Hub.

About Putnam Investments

Founded in 1937, Putnam Investments is a global money management firm with over 80 years of investment experience. At the end of April 2022, Putnam had $180 billion in assets under management. Putnam has offices in Boston, London, Munich, Tokyo, Singapore and Sydney. For more information, visit putnam.com.

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Putnam Investments to Launch Three Active Equity Exchange-Traded Funds

BOSTON, May 23, 2022 – Putnam Investments today announced that it will launch three actively managed, transparent exchange-traded funds (ETFs) in the coming months, pending completion of the regulatory filing process.

The new ETFs will each have a distinct investment focus:

  • Putnam BDC Income ETF – Business development companies (BDCs)
  • Putnam BioRevolutionTM ETF – Companies operating at the intersection of technology and biology in the “biology revolution”
  • Putnam Emerging Markets ex-China ETF – Emerging markets companies, excluding investments in China and Hong Kong

Building on the firm’s launch of its first four active ETFs last year, the new products will leverage existing investment expertise and capabilities within Putnam and are designed to provide the marketplace with access to three compelling strategies within an ETF format.

“Putnam continues to bolster its product lineup by bringing thoughtful, innovative strategies to the marketplace,” said Robert L. Reynolds, President and Chief Executive Officer, Putnam Investments. “We are excited to offer investors and advisors a dynamic set of investment opportunities, which will be meaningful additions to Putnam’s growing ETF roster.”

The ETF strategies expected to be launched by Putnam in the coming months include:

  • Putnam BDC Income ETF – Seeks current income by investing mainly in exchange-traded BDCs based in the U.S. and registered with the SEC. BDCs generally invest in, lend capital to or provide services to privately-held U.S. companies or thinly traded U.S. public companies.
  • Putnam BioRevolutionTM ETF – Seeks long-term capital appreciation by investing mainly in common stocks of companies of any size with a focus on those that Putnam believes offer the opportunity to capitalize on a convergence of technological developments in the life sciences sector. These include technology-enabling companies that provide the materials, equipment, and knowledge to enable biology innovations, biotechnology, or synthetic biology companies, as well as companies that operate in industries that are likely to be impacted by the biology revolution over time.
  • Putnam Emerging Markets ex-China ETF – Seeks long term capital appreciation by investing mainly in common stocks of emerging market companies. Emerging markets include countries in the MSCI Emerging Markets ex China Index or those Putnam considers to be emerging markets based on an evaluation of their level of economic development or the size and experience of their securities markets. The ETF will exclude companies domiciled in, or whose stocks are listed for trading on an exchange in, China or in Hong Kong.

“We are enthused to bring these differentiated strategies to the marketplace, to give investors exposure to several important developing areas,” explained Carlo Forcione, Head of Product and Strategy at Putnam Investments.

“The new ETFs are an extension of Putnam’s equity investment capabilities that apply traditional fundamental research, currently employed in an array of products offered by our firm across retail mutual funds, ETFs, separately managed accounts, collective investment trusts, private funds and non-U.S. funds,” Forcione continued.

Putnam launched its first four active ETFs in May 2021: Putnam Focused Large Cap Growth ETF; Putnam Focused Large Cap Value ETF; Putnam Sustainable Future ETF; and Putnam Sustainable Leaders ETF.

About Putnam Investments

Founded in 1937, Putnam Investments is a global money management firm with over 80 years of investment experience. At the end of April 2022, Putnam had $180 billion in assets under management. Putnam has offices in Boston, London, Munich, Tokyo, Singapore and Sydney. For more information, visit putnam.com.

NOTE: The registration statement relating to these securities has been filed with the SEC but is not yet effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.


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