Author: Web Team

BOSTON, December 21, 2020 – Putnam Investments announced today that DALBAR has recognized the firm with the Excellence in Sales Support Award for the third consecutive year. One of only two financial services firms to receive the award this year, Putnam’s inbound sales desk was honored for best-in-industry support that it delivered to financial advisors across the country as they faced unprecedented challenges during this year’s COVID-19 pandemic.

The DALBAR Excellence in Sales Support Award recognizes outstanding service provided by an organization’s inbound sales desk with a specific focus on level of expertise, ability to communicate effectively, active listening techniques and overall proficiency in meeting advisors’ needs. In order to qualify for the award, firms were required to demonstrate superior service for the entire year.

“At Putnam, our Client Engagement Center is dedicated to delivering comprehensive, world-class support to the financial advisor community in their sales efforts,” said Scott C. Sipple, Head of Putnam Retail Management. “We are honored to receive this DALBAR award and are tremendously proud of our team’s accomplishments during this difficult pandemic as they help advisors engage with clients and provide them with the necessary resources to advance their clients’ financial goals.”

Putnam’s Client Engagement Center is dedicated to delivering premier value-added content and services with a consultative approach in the areas of investment, practice and wealth management.

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 2020, Putnam had $188 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, December 10, 2020 – Putnam Investments announced today that it has been recognized by DALBAR for mutual fund service quality for the 31st consecutive year. The acknowledgement of Putnam’s work in this area includes being named a DALBAR Mutual Fund Service Award winner and recipient of DALBAR’s Total Client Experience Award.

“It is with a great sense of pride that Putnam accepts this important award from DALBAR for the quality of service that we provide to our clients every single day,” said Putnam President and Chief Executive Officer Robert L. Reynolds. “Along with delivering strong investment performance, we strive to bring our clients world-class service, driven by innovation, dedicated resources and a talented internal team that is second to none.”

For over three decades, DALBAR has conducted rigorous, systematic and yearlong testing of customer service based on industry benchmarks and has identified service providers that exceed industry standards. The DALBAR Service Awards are given annually by DALBAR, Inc., a leading financial services market research and consulting firm to elite service providers.

“Service is a critical component of the value proposition that we provide to our clients — and has been for decades,” said Putnam Chief of Operations Michael J. Woodall. “Our 31 consecutive awards in this area from DALBAR are a testament to the commitment and hard work of our services teams, who are continuously seeking to set the bar at the highest possible level.”

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 a reputation for consistent and unbiased evaluations of investment companies, registered investment advisers, insurance companies, broker/dealers, retirement plan providers and financial professionals. DALBAR awards are recognized as marks of excellence in the financial community.

About Putnam Investments

Founded in 1937, Putnam Investments is a leading global money management firm with over 80 years of investment experience. At the end of November 2020, Putnam had $188 billion in assets under management. Putnam has offices in Boston, London, Frankfurt, Tokyo, Singapore and Sydney. For more information, visit putnam.com.

Putnam mutual funds are distributed by Putnam Retail Management.

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BOSTON, October 8, 2020 – During the COVID-19 pandemic, 74% of U.S. financial advisors who used social media for business initiated new relationships or onboarded new clients, according to the Putnam Investments Social Advisor 2020 Study (Pulse Edition) released today. The new research found that 55% of advisors who initiated new client relationships say they had increased their use of social media during the pandemic.

Commenting on the increasing importance of social media in recent months, Mark McKenna, Head of Global Marketing at Putnam Investments, said “When it no longer became feasible for advisors to hold in-person meetings due to stay-at-home and social distancing orders, many professionals turned to social media to help clients and prospects weather the financial and emotional impact of the crisis.

“Advisors’ active use of social media during the pandemic has been critical to their success, not only in communicating with prospects and referrals, but also in advancing their ongoing relationships with clients,” added McKenna.

Advisors Adapt to Environment

One of the crucial findings of the study is that advisors have proven adept at managing their practices through the public health crisis by finding additional ways of engaging their clients, including greater use of social media. Notably, 84% of respondents expect that the changes made to their communications methods will largely be kept intact moving forward.

“It is encouraging that some of the changes advisors made to how they use social media in their practices during the pandemic will become foundational for their communications with clients on a go-forward basis,” explained McKenna.

The study found that nearly three-quarters of advisors (74%) relied on direct messaging through key social network platforms to communicate with clients and prospects; of those, 94% reported gaining new assets. Of particular note:

• 50% use direct messaging on LinkedIn, with 92% gaining assets
• 38% use Facebook for direct messaging, with 98% reported gaining assets
• 33% use Twitter for direct messaging, with 98% gaining assets
• 26% use direct messaging on Instagram, with 98% gaining assets

Social Platforms of Choice
While all of the social network platforms tracked showed increased use since the first Putnam Social Advisor Study in 2013, and more advisors use multiple platforms, LinkedIn remains the clear leader. The lineup of the social network platforms that advisors use most for business are:

• LinkedIn (85%)
• Facebook (65%)
• Twitter: (57%)
• YouTube (53%)
• Instagram (46%)
• Snapchat (31%)

In their use of LinkedIn during the first few months of the pandemic, nearly half of advisors (48%) who initiated new relationships report using the platform’s InMail feature to contact out-of-network prospects and 36% say they have hosted or participated in a LinkedIn Live session. Additionally, 80% of advisors who initiated new relationships since late February used one of LinkedIn’s premium memberships.

Social Media Support from Home Offices
Nearly 90% of advisors reported that support from their home offices made a positive difference as they worked remotely by enabling and supporting their use of social media. Importantly, advisors pointed toward specific areas where their home offices have laid the groundwork for their social media efforts, including providing timely content to post (55% of advisors); expanding the number of social networks approved for business use (48%); providing access to support resources (45%); and offering training from partner firms (40%), home office (37%) and third parties (27%).

Survey Methodology

The pulse survey was conducted online from June 9 to June 23, 2020, in conjunction with NMG Consulting, and included 252 financial advisors across the United States who have advised retail clients for more than two years and have used social media for business. The 2020 edition of the research builds upon seven previous editions of the Putnam Social Advisor Study.

About Putnam Investments

Founded in 1937, Putnam Investments is a global asset management firm with over 80 years of investment experience. At the end of August 2020, Putnam had $182 billion in assets under management. For more information, visit putnam.com.

BOSTON, September 10, 2020 – Putnam Investments today announced that D. William (Bill) Kohli, Chief Investment Officer of Fixed Income, will be retiring from the firm and industry on June 30, 2021. Michael Salm, who has been a fixed income leader and portfolio manager at the firm for over 20 years, has been named Co-CIO effective immediately and will succeed Kohli as Fixed Income CIO in mid-2021.

“Bill has provided tremendous leadership and vision in his work with the Putnam Fixed Income team for over 25 years and has helped to develop the firm’s highly regarded talent and capabilities in this important investment area,” said Aaron Cooper, Putnam Chief Operating Officer. “In Mike Salm, we have a deeply experienced, savvy investor and thought leader who has worked closely with Bill for many years and is ideally suited to carry on Putnam’s strong fixed income legacy.”

Cooper indicated that Kohli and Salm will continue their close collaboration over the next ten months to ensure a seamless leadership transition with the Fixed Income team. Additionally, Putnam’s team-based approach, with multiple portfolio managers, will allow for a smooth transition of Kohli’s portfolio management responsibilities next year.

In discussing his pending retirement, Kohli said, “While excited for my next chapter, I am proud and honored to have represented Putnam for the past 25-plus years and feel privileged to have been associated with my professional colleagues, investors and clients. I have total confidence in Mike’s ability to lead Fixed Income and look forward to our continuing partnership in the coming months.”

Putnam manages over $75 billion in fixed income assets for retail, institutional and retirement clients. The firm has a breadth of expertise in areas such as investment-grade and high-yield credit, liquid markets, structured credit, emerging-market debt, money markets, portfolio construction and tax-exempt securities.

Kohli, who has been in the investment industry for nearly 30 years, joined Putnam in 1994. Prior to becoming Chief Investment Officer of Putnam Fixed Income in 2016, he had been a Co-Head of the team. In addition to his broader leadership and institutional management responsibilities, Kohli is a portfolio manager of Putnam Diversified Income Trust, Putnam Fixed Income Absolute Return Fund, Putnam Global Income Trust, Putnam Master Intermediate Income Trust, Putnam Premier Income Trust and Putnam Short Duration Bond Fund.

Before joining Putnam, Kohli held senior portfolio management roles at Franklin Advisors/Templeton Investment Counsel. He has a B.A. degree from University of California, San Diego, and an M.B.A. from University of California, Berkeley.

Salm, a 30-year industry veteran, joined Putnam in 1997 and has served as Co-Head of the Fixed Income Group since 2011. His responsibilities include managing a number of institutional offerings, as well as alternatives strategies under the firm’s 37 Capital brand. Also, Salm is a portfolio manager of Putnam Diversified Income Trust, Putnam Global Income Trust, Putnam Fixed Income Absolute Return Fund, Putnam Income Fund, Putnam Master Intermediate Income Trust, Putnam Mortgage Securities Fund, Putnam Premier Income Trust and Putnam Ultra Short Duration Income Fund.

Prior to Putnam, Salm held various investment, trading and research responsibilities at BlackRock Financial Management, Nomura Securities, Nikko Securities and Fitch Investor Services. He has a B.S. degree from Cornell University.

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 2020, Putnam had over $180 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, March 6, 2020 – Putnam Investments announced today that two of its mutual funds received 2020 Lipper Fund Awards in recognition of consistently strong risk-adjusted performance relative to their peers over periods of three or more years.

The Putnam funds honored at the Refinitiv Lipper Fund Awards ceremony held in New York City last night include:

• George Putnam Balanced Fund R6 (PGEJX) — 3- and 5-year performance
• Putnam Income Fund R6 (PINHX) — 3-year performance

“Putnam is honored to receive these Lipper Awards, which symbolize performance excellence in the mutual fund industry,” said Robert L. Reynolds, Putnam Investments President and CEO. “We salute our talented and highly dedicated investment team who demonstrate an unyielding commitment and passion each and every day to generating strong results for our clients and shareholders.”

George Putnam Balanced Fund R6 (PGEJX) was honored for its top risk-adjusted performance relative to its peers in the Mixed-Asset Target Allocation Moderate Funds category for both its three- and five-year performance. Managed by Kathryn B. Lakin, Paul Scanlon and Emily E. Shanks, the fund seeks to provide a balanced investment composed of a well-diversified portfolio of stocks and bonds with the goal of producing both capital growth and current income.

Putnam Income Fund R6 (PINHX), managed by Michael Salm, Brett S. Kozlowski and Emily E. Shanks, won its three-year award within the Core Bonds Funds category. The fund seeks high current income consistent with what Putnam management believes to be prudent risk and pursues opportunities across all sectors of the U.S. bond market, including mortgage-backed securities, corporate bonds and other government obligations.

About the Lipper Fund Awards

The Lipper Fund Awards annually recognize funds and fund management firms for their consistently strong risk-adjusted three-, five- and 10-year performance relative to their peers based upon Lipper’s quantitative, proprietary methodology. The awards are sponsored by Refinitiv, formerly the Financial and Risk business of Thomson Reuters. For more information, visit www.lipperfundawards.com.

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 January 2020, Putnam had $180 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, January 22, 2020 – Putnam Investments announced today that, for the second consecutive year, it has earned DALBAR’s Excellence in Sales Support Award, which recognizes financial services companies for providing industry-leading support to the advisor community through the inbound sales desk. Putnam was named one of only four financial services companies to earn the 2019 award from DALBAR, an independent market research firm which for more than three decades has identified those companies that provide the highest level of service within the industry.

“Our organization is proud to be honored by DALBAR with this award, which reflects our unyielding focus on providing the retail marketplace with quality, comprehensive support in their sales efforts,” said Scott C. Sipple, Head of Putnam Retail Management. “The highly dedicated team at Putnam’s Client Engagement Center (CEC) works tirelessly to make sure that our advisors have all of the information, insight and resources necessary to successfully address their clients’ critical financial goals.”

Putnam’s Client Engagement Center (CEC) strives to deliver premier value-add content and services to financial advisors across the country, utilizing a consultative approach in the areas of investment, practice, and wealth management.

The DALBAR Excellence in Sales Support Award recognizes outstanding service provided by an organization’s inbound sales desk with a specific focus on level of expertise, ability to communicate effectively, active listening techniques, and overall proficiency in meeting the advisors’ underlying needs. To qualify for the award, firms were required to provide a superior standard of service for the entire year.

About DALBAR

DALBAR, Inc. is the financial community’s leading independent expert for evaluating, auditing and rating business practices, investor behavior, and product quality. Launched in 1976, DALBAR has earned a reputation for consistent and unbiased evaluations of investment companies, registered investment advisers, insurance companies, broker/dealers, retirement plan providers and financial professionals. 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 December 2019, Putnam had $182 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, January 15, 2020 – Putnam Investments today announced that it has received the DALBAR Total Client Experience award for the ninth straight year, in recognition of the firm’s commitment to providing an exceptional all-around contact center experience for its retail mutual fund clients. Putnam is the sole recipient of the award based on a multi-dimensional analysis of mutual fund customer service, particularly focused on three key areas: quality, accuracy and client security.

“One of Putnam’s key priorities is always ensuring that our clients’ total experience is first-rate and we are delighted to be recognized by DALBAR for this distinction for the ninth consecutive year,” said Michael Woodall, Chief of Operations at Putnam Investments. “Each and every day, our world-class service team strives to deliver top-of-the-line expertise, capabilities and resources to our most valuable asset – our clients. It’s a hallmark of the Putnam brand.”

Putnam has been recognized by DALBAR for mutual fund service quality for 30 consecutive years. The continuous acknowledgement of Putnam’s work in this area includes being named a DALBAR Mutual Fund Service Award winner and recipient of DALBAR’s Total Client Experience Award.

DALBAR is the financial community’s leading independent expert for evaluating, auditing and rating business practices, customer performance, product quality and service.

The award is based on DALBAR’s measurement of the complete experience of the customer, evaluating the level of professionalism that is demonstrated by the financial services firm’s personnel and the follow through — the accurate execution of transactions and requests while ensuring thorough security protocols. For the 30th consecutive year, Putnam has received a DALBAR service quality award continuing its longstanding commitment to industry-leading consistency and reliability.

Key award criteria includes:

• Authenticating caller’s properly to protect their shareholder’s privacy and assets
• Engaging shareholders through friendly, personable interactions
• Communicating effectively
• Providing complete and accurate account details to ensure that shareholders are able to make informed decisions
• Completing all transactions accurately according to shareholder instructions

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 a reputation for consistent and unbiased evaluations of investment companies, registered investment advisers, insurance companies, broker/dealers, retirement plan providers and financial professionals. DALBAR awards are recognized as marks of excellence 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 December 2019, Putnam had $182 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, January 14, 2020 — Putnam Investments today named Scott C. Sipple as Head of Putnam Retail Management (PRM), effective immediately. Sipple will be based in Boston and report to Putnam President and CEO Robert L. Reynolds.

Sipple, who had been serving as President of Great-West Investments, will be responsible for the full breadth of Putnam’s retail mutual fund distribution business, including Regional Advisor Consulting, Relationship Management, Business Development and the firm’s Client Engagement Center. Under Sipple’s leadership, Putnam will further its efforts in addressing the evolving needs of wirehouses, regional and independent broker dealers, banks, insurance companies and RIAs across the country.

“As a firm that places its clients first and foremost every day, we are very pleased to welcome Scott back to Putnam to lead the charge in serving the broad range of asset management needs of the retail marketplace,” said Reynolds. “Scott brings extraordinary leadership experience to his new role, along with a thoughtful, results-driven approach that will ultimately help achieve successful outcomes for financial advisors and investors.

Sipple, age 57, comes to the firm having been President of Great-West Investments, where he led Empower Retirement’s efforts on investment, income and advice solutions within the retirement market.

Earlier, he served as Head of Global Investment Strategies at Putnam Investments, where his responsibilities spanned the firm’s U.S. retail, retirement and global institutional businesses. Additionally, Sipple had oversight of the investment strategies teams across equity, fixed income, and global asset allocation, as well as product development and strategy. He was also responsible for the Portfolio Solutions Group, capital markets analysis and wealth management advisory services during his 2009-2017 tenure at Putnam.

From 2004 to 2009, Sipple held leadership positions at Fidelity Investments, including heading investment consulting services and subsequently the institutional bank division, providing retirement record-keeping and investment solutions to institutional banks. Before joining Fidelity, Sipple had leadership roles at AllianceBernstein from 1998 to 2004, including overseeing Regent Investors Services, global portfolio strategy and product management, and senior portfolio management. He is a graduate of Dartmouth College.

Previously, Putnam Retail Management was led by William T. Connolly, who retired from the firm in December.

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 December 2019, Putnam had $182 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, December 3, 2019 – Putnam Investments announced today that it has been recognized by DALBAR for mutual fund service quality for the 30th consecutive year. The continuous acknowledgement of Putnam’s work in this area includes being named a DALBAR Mutual Fund Service Award winner and recipient of DALBAR’s Total Client Experience Award.

“We are humbled to have received strong, ongoing recognition from DALBAR these past 30 years.” said Putnam President and Chief Executive Officer Robert L. Reynolds. “Our service teams work hard every day to ensure our clients expectations are not only met – but exceeded. Putnam’s entire organization is truly honored to receive this award and we are committed to continuing our unyielding focus on world class service in the coming years.”

For over three decades, DALBAR has conducted rigorous, systematic and yearlong testing of customer service based on industry benchmarks and has identified service providers that exceed industry standards. The DALBAR Service Awards are given annually by DALBAR, Inc., a leading financial services market research and consulting firm to elite service providers.

“Putnam is incredibly proud of the extraordinary work ethic and dedication demonstrated on a daily basis by our service teams in addressing a multitude of client needs,” said Putnam Chief of Operations Michael J. Woodall. “Another hallmark of this team’s approach to service is a continuous thirst to improve and innovate in everything that we do — to ultimately achieve the best outcome for our clients.”

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 a reputation for consistent and unbiased evaluations of investment companies, registered investment advisers, insurance companies, broker/dealers, retirement plan providers and financial professionals. DALBAR awards are recognized as marks of excellence in the financial community.

About Putnam Investments

Founded in 1937, Putnam Investments is a leading global money management firm with over 80 years of investment experience. At the end of October 2019, Putnam had $177 billion in assets under management. Putnam has offices in Boston, London, Frankfurt, Tokyo, Singapore and Sydney. For more information, visit putnam.com.

Putnam mutual funds are distributed by Putnam Retail Management.

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BOSTON, November 18, 2019 – In keeping with its commitment to provide financial advisors with a broad range of investment solutions to meet the changing needs of their clients, Putnam Investments today announced that it has begun offering seven equity model-based separately managed accounts (SMAs) and is expected to have six multi-asset model portfolios available to the marketplace by year-end.

“The demand for strategies in the model delivery structure is rapidly increasing as advisors seek products that are fee-efficient and tailored to meet their clients’ individual preferences,” said Robert L. Reynolds, President and CEO, Putnam Investments. “We think it is important to offer our investment strategies through a host of different investment vehicles to allow maximum flexibility for advisors as they develop individualized portfolio solutions that help generate their clients’ desired investment results.”

Putnam’s decision to offer SMAs reflects emerging preferences among investors for strategies in the equity space that are generally cost-effective and tax efficient and provide opportunities for customization, enabling investors to work with their advisors to screen for certain investments that they deem in conflict with their personal values.

“Most importantly, investors are looking for solid, long-term, risk-adjusted performance that can produce positive returns net of fees,” explained Reynolds. “We are pleased to make a number of our competitively performing active equity strategies available to address a growing marketplace desire for key characteristics offered in an SMA format.”

The recently launched model SMAs developed by Putnam include:

• U.S. Large Cap Value Equity
• U.S. Large Cap Growth Equity
• U.S. Multi-Cap Core Equity
• Sustainable Leaders
• Sustainable Future
• U.S. Small Cap Growth Equity
• International Durable Equity (ADR only)

Putnam to Offer Multi-Asset Model Portfolios

In addition to offering SMAs, Putnam will also enter the multi-asset model portfolio space later this year with six offerings. The model portfolios will use a systematic investing approach and be composed of Putnam’s active mutual funds and third-party exchange-traded funds (ETFs). The portfolios largely will be benchmarked to custom multi-asset portfolio benchmarks.

Each model portfolio will have a different risk profile as a result of the split between equities and fixed income, with increasing levels of equities in increments of 20%. Active investments will represent approximately half of each portfolio.

Putnam’s Multi-Asset Model Portfolio lineup will include:

• Income (targeted 0% equity)
• Balanced Income: (targeted 20% equity)
• Conservative Growth: (targeted 40% equity)
• Balanced Growth: (targeted 60% equity)
• Growth (targeted 80% equity)
• Aggressive Growth (targeted 100% equity)

The portfolios will be managed by Putnam’s long-tenured Global Asset Allocation team, which currently manages approximately $15 billion in assets, as of October 31, 2019.

“Model-delivered solutions represent an exciting convergence of customer preferences, modern distribution, and technological advancement. We will continue to be active in innovating around the delivery of our active management insights,” added Reynolds.

About Putnam Investments

Founded in 1937, Putnam Investments is a leading global money management firm with over 80 years of investment experience. At the end of October 2019, Putnam had $177 billion in assets under management. For more information, visit www.putnam.com.