FOR MEDIA USE ONLY
BOSTON, February 10, 2023 – Putnam Investments today announced the availability of Putnam Sustainable Retirement Funds, a target-date series for the retirement savings marketplace. The suite invests in actively managed sustainable and environmental, social and governance (ESG)-focused exchange-traded funds (ETFs) managed by Putnam.
Implementing a similar retirement glidepath philosophy as the firm’s other target-date offering, Putnam Retirement Advantage , the series offers vintages for every five years from 2025 through 2065, along with a maturity fund. The Putnam Global Asset Allocation team, which also manages Putnam Retirement Advantage, is responsible for the glidepath and both the tactical and ETF allocations of the Putnam Sustainable Retirement target-date suite.
“As the retirement marketplace continues to evolve and grow, there is tremendous appetite for meaningful product innovation that creates greater choice of offerings to help working Americans achieve their financial goals,” said Robert L. Reynolds, President and Chief Executive Officer, Putnam Investments.
“Putnam is pleased to continue our commitment to delivering differentiated active management strategies by adding Putnam Sustainable Retirement Funds to our line-up of investment products for plan sponsors and their participants,” he explained.
In discussing the announcement, Steven P. McKay, Putnam’s Head of Global Defined Contribution Investment Only, said, “There is growing interest in sustainable investing within the defined contribution realm, and we are excited to deliver this innovative approach to target-date investing to the retirement savings marketplace.”
Putnam Sustainable Retirement Funds will invest in ETFs across asset classes managed by the firm, including:
- Putnam Sustainable Future ETF (NYSE Arca: PFUT)
- Putnam Sustainable Leaders ETF (NYSE Arca: PLDR)
- Putnam ESG Core Bond ETF (NYSE Arca: PCRB)
- Putnam ESG High Yield ETF (NYSE Arca: PHYD)
- Putnam ESG Ultra Short ETF (NYSE Arca: PULT)
- Putnam PanAgora ESG Emerging Markets Equity ETF (NYSE Arca: PPEM)*
- Putnam PanAgora ESG International Equity ETF (NYSE Arca: PPIE)*
*Sub-advised by PanAgora Asset Management, Inc.
Putnam Sustainable Retirement Funds succeed the Putnam RetirementReady® Funds.
About Putnam Investments
Founded in 1937, Putnam Investments is a global money management firm with over 85 years of investment experience. At the end of January 2023, Putnam had over $170 billion in assets under management. Putnam has offices in Boston, London, Munich, Singapore, Sydney and Tokyo. For more information, visit putnam.com.