Millennials, Gen Z grew wealth in 2021

The wealth of millennials and Generation Z grew 25% in 2021, according to a new study. Last year, combined total assets of these two age groups grew to $3.6 trillion from $2.9 trillion in 2020. The study also found that 59% of millennials said they wanted more financial advice than they currently receive. According to the Brookings Institution, more than half of Americans are millennials or younger.

Demand for ESG investments projected to soar

Assets in ESG (environmental, social, and governance) focused investments are expected to grow at a much faster pace than the asset and wealth management market as a whole, according to a new report. ESG assets in the United States are expected to more than double from $4.5 trillion in 2021 to $10.5 trillion in 2026, while ESG assets in Europe would increase 53% to $19.6 trillion. ESG assets are on pace to account for about 21.5% of total global investment assets under management in less than five years, the report noted.

Social Security announces 2023 COLA

The Social Security Administration announced the 2023 COLA (cost of living adjustment) for benefits will be 8.7%. The increase marks the largest COLA since 1981. The annual inflation adjustment is made to help retirees keep up with higher costs. Beginning in January, the COLA will result in a benefit increase of more than $140 per month, the report noted. Some 66 million people receive Social Security benefits.

ESG rule under review

The Department of Labor’s final rule focused on ESG (environmental, social, and governance) factors and retirement accounts was submitted to the Office of Management and Budget for review, according to a recent article. The rule would allow retirement plan fiduciaries to consider ESG factors when selecting investment choices or offer ESG-related investments in qualified retirement plans. A final rule could be released by year-end, the report noted.

Putnam Investments Congratulates Golfer Keegan Bradley on Winning the Zozo Championship

BOSTON, October 17, 2022 — Putnam Investments today saluted the firm’s Performance in Motion marketing partner Keegan Bradley on his victory in the Zozo Championship, the only Professional Golfers’ Association (PGA) Tour event held in Japan. Bradley’s fifth PGA Tour win came with a dramatic 20-foot putt on the 17th hole in the final round that clinched a one-shot win for him over the field, finishing the tournament with a 15-under total of 265.

“We congratulate Keegan Bradley for winning the Zozo Championship in a stirring match in which he showed not only his great talent but also tremendous heart and grit,” said Robert L. Reynolds, President and Chief Executive Officer, Putnam Investments. “It was thrilling to watch Keegan stay near the top of the leaderboard each day, proving his relentless spirit and determination. Keegan’s refusal to lose his competitive focus under intense pressure and his dedication to performing at the highest possible standard is why Putnam is proud to partner with him.”

Keegan Bradley photo

Bradley and Putnam first partnered in 2011, after which he became the first rookie ever to win the PGA Championship, one of only six golfers in history to win one of the four major championships in his debut performance. Bradley finished his rookie season by winning the PGA Grand Slam of Golf, an off-season tournament that annually brings together the winners of the four major men’s golf championships in stroke play competition. He also was named PGA Tour Rookie of the Year, launching a PGA career that is now in its 12th year.

Since 2011, Putnam Investments and Bradley have had a multifaceted, multiyear partnership through the Putnam Performance in Motion affinity marketing program. The long-term partnership, which underscores the shared commitment of Putnam and Bradley to performance excellence, provides a platform for significant co-branded marketing opportunities on a regional, national and global scale.

About Performance in Motion

Putnam Investments’ Performance in Motion marketing program draws upon sports that appeal to its advisor, institutional and investor audiences. As part of this effort, the firm works closely with teams and athletes who best personify Putnam’s focus on performing at the highest level. In addition to Keegan Bradley, Putnam’s Performance in Motion marketing partners include the six-time Super Bowl-winning New England Patriots, the Boston Celtics and the New England Revolution soccer team. For more information, visit: www.putnam.com/performanceinmotion.

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 September 2022, Putnam had approximately $158 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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Market optimism falls among investors

Market optimism among investors and advisors fell to half of what it was in 2021, according to a recent survey. Investor optimism about their investments fell to 31% this year from 67% in 2021. The number of investors citing a pessimistic view jumped to 36% from 7% last year. Market confidence fell among advisors, dropping to 34% this year from 78% last year. More advisors also reported a pessimistic investment outlook, with the total rising to 25% from 3% a year ago.

Why investors consider robo advice

Two thirds of adults in a recent survey said they would consider using a robo advisor. The poll found 41% of respondents currently work with a human financial advisor and only 1% use a robo advisor. Three quarters of millennials said they would consider a robo advisor compared with 43% of boomers. The majority (80%) of those polled said they would consider a robo advisor if they knew it was less costly. Most respondents (65%) cited help managing money and savings as the most common reason for having an advisor.

Donors consider a variety of assets for charity

Many adults donating to charity this year do not plan to consult a financial advisor, according to a recent survey. Just 23% of respondents said they plan to seek advice. Among those working with an advisor, 70% are more likely to donate different types of assets other than cash including stock, real estate, and other business assets. In addition, 35% of those with an advisor said they felt more successful meeting their goals compared with 17% of those without an advisor

Investors seek advice to deal with volatility

Professional advice can help investors manage market volatility, a recent poll found. Most respondents said two factors help them manage their emotions during market volatility: guidance from a financial advisor and investment transparency. The report also found a growing interest in knowing more about the managers behind the funds. The number of respondents citing a “high interest” in the managers rose to 36% in 2021 from 29% in 2020. Consumer interest in the investment companies managing mutual funds jumped to 44% in 2021 from 31% in 2020 among younger investors (ages 35–44).

Putnam Investments to Launch Two Innovative Active ETFs

BOSTON, September 28, 2022 – On Friday, September 30, Putnam Investments will begin to offer two new transparent, actively managed, equity exchange-traded funds (ETFs). The firm will be launching Putnam BDC Income ETF, concentrating in business development companies (BDCs), and Putnam BioRevolutionTM ETF, centered on companies operating at the intersection of technology and biology in the “biology revolution.”

One important milestone of the upcoming launch is that the Putnam BDC Income ETF will represent the first actively managed BDC ETF in the marketplace, investing in a host of BDC opportunities with an eye toward generating income for investors.

“Putnam is excited to bring these two dynamic new strategies to market as we seek to address the long-term investment needs of advisors and their clients,” said Robert L. Reynolds, President and Chief Executive Officer, Putnam Investments. “Our firm is focused on providing unique and differentiated offerings — delivered through a variety of vehicles — that tap Putnam’s deep investing expertise and exceptional research capabilities.”

The two transparent, active equity ETF strategies to be launched by Putnam on September 30 are:

Putnam BDC Income ETF (NYSE Arca: PBDC)

  • Invests 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 has managed a similar non-public BDC-focused strategy for nearly five years
  • Managed by Michael Petro

Putnam BioRevolutionTM ETF (NYSE Arca: SYNB)

  • Invests in companies that seek to capitalize on the convergence of technological developments in the life sciences sector, including technology-enabling companies, synthetic biology companies, and companies that operate in industries that are likely to benefit from the biology revolution
  • Managed by William Rives

“We have identified BDCs and advances in the biology sector as providing distinctive opportunities for investors in rapidly evolving sectors of the economy,” said Carlo Forcione, Head of Product and Strategy at Putnam Investments. “Our new ETFs represent innovative, early-to-market offerings that will align well with the portfolio construction needs of our clients and the broader marketplace.”

Active ETF Lineup at Putnam

The two new ETFs available later this week will join the firm’s four existing active ETFs, launched by Putnam in May 2021: Putnam Focused Large Cap Growth ETF (NYSE Arca: PGRO), Putnam Focused Large Cap Value ETF (NYSE Arca: PVAL), Putnam Sustainable Future ETF (NYSE Arca: PFUT), and Putnam Sustainable Leaders ETF (NYSE Arca: PLDR).

Putnam’s ETFs employ the firm’s established active investment approach, characterized by rigorous fundamental research and advanced risk management techniques in pursuit of alpha generation for investors. At the same time, they have attractive features that have made ETFs popular more generally, including intraday liquidity and enhanced tax efficiency.

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 August 2022, Putnam had $169 billion in assets under management. Putnam has offices in Boston, London, Munich, Singapore, Sydney and Tokyo. For more information, visit putnam.com.


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