Author: Web Team

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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BOSTON, September 7, 2022 – Putnam Investments today announced that it has appointed Jacquelyn (“Jackie”) S. VanderBrug as Head of Sustainability Strategy for the firm, a new position that will report to Putnam President and CEO Robert L. Reynolds. She will also join the company’s Operating Committee.

In helping to drive Putnam’s work in the sustainability arena, VanderBrug will lead a host of key ESG-focused business functions, such as Stewardship, Engagement, and Partnerships, and ESG Strategy and Integration. She will work closely with an array of internal partners, including Katherine Collins, Head of Sustainable Investing, and Catherine Saunders, Head of Corporate Sustainability.

A respected 30-year industry veteran, thought leader and author, VanderBrug joins Putnam from Bank of America, where she most recently served as Head of Sustainable and Impact Investment Strategy.

“We are thrilled to welcome Jackie to Putnam, where she will play an integral role in further expanding our firm’s focus in the critical realm of sustainability,” said Reynolds. “At a time when ESG-related questions are rising in complexity and intensity, we are focused on further strengthening our investment-centric approach to these issues.

“Putnam will greatly benefit from Jackie’s extensive expertise and hands-on leadership as we continue our journey in this area for clients, associates and the broader community,” he explained.

VanderBrug comes to Putnam from Bank of America, where she most recently served as Head of Sustainable and Impact Investment Strategy in the Chief Investment Office for Merrill and Bank of America Private Bank since 2018. In this role, she developed investment solutions, thought leadership and tools to assist clients across the wealth management spectrum in meeting long-term financial objectives while generating positive social and environmental impact.

Prior to joining the Bank in 2013, VanderBrug was a Managing Director at Criterion Ventures, where she began in 2004. Earlier, she was Co-Founder and Executive Director for Work in Progress (a non-profit network of college-based jobs), Vice President and Director of Business Development at iBASIS, Managing Associate at CSC Index, and Programming Analyst for the United States Congress.

She is active with a number of professional organizations, including U.S. Sustainable Investment Forum, Aspen Institute, Gender Smart, Trustees of the Donations, and Duke University i3 (Impact Investing Initiative). Additionally, VanderBrug is a published author on a range of subjects, such as Women, Millennials and Investing for Impact, Gender Lens Investing: Uncovering Opportunities for Growth, Returns, and Impact, “The Rise of Gender Capitalism,” and “The Global Rise of Female Entrepreneurs.”

VanderBrug has a B.S. from Calvin College and an M.B.A. from the University of Michigan.

Sustainability at Putnam

Putnam is committed to making its business sustainable by building a resilient investment process, ensuring the highest standards of ethics and service, and developing an inclusive workplace culture engaged with our community. The firm believes that sustainability is an evolving concept, and as such, Putnam is constantly evaluating the impact of policies and practices on its business, people, and community.

About Putnam Investments

At the end of July 2022, Putnam had $176 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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BOSTON, June 8, 2022 – Putnam Investments today announced that the firm will bring three active fixed income and two active quantitative equity exchange-traded funds (ETFs) to the market, all with an environmental, social and governance (ESG) focus, following completion of the regulatory process.

The new ETFs to be launched by Putnam in the coming months are:

Fixed Income ETFs —

• Putnam ESG Core Bond ETF
• Putnam ESG High Yield ETF
• Putnam ESG Ultra Short ETF

Quantitative Equity ETFs —

• Putnam PanAgora ESG International Equity ETF
• Putnam PanAgora ESG Emerging Markets Equity ETF

The new, ESG-focused Putnam fixed income portfolios build upon the long-time capabilities and experience of the Putnam Fixed Income team, utilizing an ETF format. The two quantitative equity ESG strategies will be sub-advised by Putnam affiliate PanAgora Asset Management, Inc., which is well regarded in the industry for its quantitative investment management expertise. Putnam will be the sponsor/investment adviser on all five transparent ETFs.

Additionally, the new fixed income and quantitative equity ESG ETFs, along with the existing Putnam Sustainable Leaders ETF and Putnam Sustainable Future ETF, will serve as underlying investment components within the firm’s ESG-focused target-date series, the Putnam Sustainable Retirement Funds. This new suite will be implemented in the coming months through a repositioning of the existing Putnam RetirementReady® Funds target-date series.

“Putnam is committed to providing investors with a range of thoughtful, alpha-seeking sustainable and ESG offerings, as we believe in the value and importance of these strategies in building a long-term investment portfolio,” said Robert L. Reynolds, President and Chief Executive Officer, Putnam Investments. “We have seen growing interest from many corners of the marketplace for ESG investing across a range of asset classes – and are excited to introduce these new fixed income and quantitative equity ETFs to our lineup.”

The five new ESG-focused ETFs, which will be available in the coming months, are:

Putnam ESG Core Bond ETF: Will seek high current income consistent with what Putnam believes is prudent risk by investing mainly in a diversified portfolio of investment-grade fixed income securities, with a focus on companies or issuers that Putnam believes meet relevant ESG criteria. The fund will invest mainly in bonds of governments and private companies that are investment-grade in quality with intermediate- to long-term maturities (three years or longer). Portfolio Managers: Michael Salm, Andrew Benson and Sri Mahanti.

Putnam ESG High Yield ETF: Will seek high current income, with capital growth as a secondary goal when consistent with achieving high current income. The fund will invest mainly in bonds that are below investment-grade in quality (sometimes referred to as “junk bonds”) that have one or more of the following characteristics: (1) are obligations of U.S. companies or issuers and (2) have intermediate- to long-term maturities (three years or longer). The fund will invest with a focus on companies or issuers that Putnam believes meet relevant ESG criteria. Portfolio Managers: Rob Salvin and Norm Boucher.

Putnam ESG Ultra Short ETF: Will seek as high a rate of current income that Putnam believes is consistent with preservation of capital and maintenance of liquidity. The fund will invest in a diversified portfolio of fixed income securities composed of short duration, investment-grade money market and other fixed income securities, with a focus on companies or issuers that Putnam believes meet relevant ESG criteria. Portfolio Managers: Joanne Driscoll, Andrew Benson and Michael Lima.

Putnam PanAgora ESG International Equity ETF: Will seek long-term capital appreciation by investing mainly in common stocks (growth or value stocks or both) of companies of any size outside the United States with a focus on securities that PanAgora believes offer attractive benchmark-relative returns and exhibit positive ESG metrics. Portfolio Managers: George Mussalli and Richard Tan.

Putnam PanAgora ESG Emerging Markets Equity ETF: Will seek long-term capital appreciation by investing mainly in common stocks (growth or value stocks or both) of emerging markets companies of any size with a focus on securities that PanAgora believes offer attractive benchmark-relative returns and exhibit positive ESG metrics. Portfolio Managers: George Mussalli and Richard Tan.

“These new products represent the ongoing evolution of Putnam’s ESG investment capabilities across asset classes, ultimately to help advisors and their clients construct robust portfolios,” explained Carlo Forcione, Head of Product and Strategy at Putnam. “We are enthused to have these offerings join an expanding stable of Putnam actively managed ETFs in the market.”

Forcione noted that Putnam launched its first four active equity ETFs in May 2021, and recently made filings to create three additional active equity ETFs to focus on business development companies, biology revolution firms, and emerging markets ex-China.

About PanAgora Asset Management, Inc.

Founded in 1989, PanAgora Asset Management, Inc. is a forward-looking investment firm underpinned by insightful research, innovation and creativity. The hands-on oversight, combined with the firm’s singular focus on seeking to develop and implement distinctive Active Equity and Multi Asset strategies, enables the firm to offer diversified and tailored investment solutions designed to help clients achieve their financial objectives.

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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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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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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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 BioRevolution^TM 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 BioRevolution^TM 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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BOSTON, December 15, 2021 – Putnam Investments announced today that DALBAR, a leading independent market research and consulting firm for the financial services industry, has named Putnam the winner of two of its premier awards: Mutual Fund Service Award and Total Client Experience Award. These honors recognize the company’s commitment to providing superior service and outstanding support to clients.

Discussing the service awards received by the firm, Michael J. Woodall, Chief of Operations, said, “We are really pleased that DALBAR has honored Putnam for its relentless dedication to achieving the highest standards of quality service.

“Our firm is extremely proud of the industry-leading work done by our extraordinary service team that has now been recognized by DALBAR for 32 consecutive years. We are excited to continue delivering at a world-class level for our clients in the years to come,” Woodall explained.

The two DALBAR Awards won by Putnam are:

• Mutual Fund Service Award, for the highest levels of call center service to fund shareholders. The award is based on rigorous, objective and independent audits of call center interactions with shareholders to ensure an exceptional quality of service. Putnam has received this honor for 32 consecutive years.
• Total Client Experience Award, which is based on DALBAR’s measurement of the complete experience of the customer. DALBAR evaluates the level of professionalism demonstrated by a financial services firm’s personnel, including the accurate execution and processing of transactions and requests while ensuring thorough security protocols. Putnam has been the sole recipient of this award since it was launched in 2011.

In commenting on the awards, Karen L. Walsh, Head of Investor Services, noted, “Putnam’s service model is multidimensional, with our firm making a concerted effort to focus on quality, accuracy and the complete customer experience. We continue to evolve and enhance our approach through extensive training of our associates, ongoing monitoring and continuous feedback, and broad use of contemporary technology.”

About DALBAR

DALBAR, Inc. is the financial community’s leading independent expert for evaluating, auditing and rating business practices, customer performance, product quality and service. Launched in 1976, DALBAR has earned recognition for consistent and unbiased evaluations. DALBAR awards are recognized as marks of a superior standard of care in the financial community.

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 November 2021, Putnam had nearly $200 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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