Putnam Investments Appoints Brett S. Goldstein Co-Chief Investment Officer of Global Asset Allocation

BOSTON, June 28, 2021 – In a move expected to provide long-term leadership continuity for its multi-asset investment group, Putnam Investments today announced that Brett S. Goldstein has been named Co-Chief Investment Officer, Global Asset Allocation (GAA), effective June 30. Goldstein, who will also serve on the firm’s Operating Committee, has been a member of Putnam’s GAA team for more than a decade and is a portfolio manager on a number of the firm’s multi-asset funds.

Goldstein and his Co-Chief Investment Officer, Robert J. Schoen, who was appointed to the senior investment role in November 2016, will be jointly responsible for the overall strategy and positioning of the firm’s GAA products. Together, they will oversee portfolio construction and risk management for GAA portfolios and the research that drives equity security selection strategies.
photo of Goldstein and Schoen

“Asset allocation is an increasingly dynamic area of investing, presenting an array of new opportunities for the marketplace,” said Aaron M. Cooper, Chief Operating Officer, Putnam Investments. “The broad expertise and deep experience of Rob Schoen in the multi-asset arena, combined with the portfolio construction acumen of Brett Goldstein, particularly in the target-date investment sphere, will provide strong and strategic leadership in guiding the firm’s GAA efforts for the exciting journey ahead.”

“Brett’s tremendous passion for capital markets, exceptional investing skills and commitment to innovation have contributed to his significant accomplishments as a portfolio manager in our GAA group,” said Schoen. “I am excited about partnering closely with Brett in the coming years to maximize opportunities for our clients and further build Putnam’s presence in the increasingly important multi-asset market.”

Schoen explained that the firm sees great potential for the development of new retirement offerings, multi-asset ESG products, custom indexes, model portfolios and other dynamic offerings that can address a host of marketplace needs. “Brett and I look forward to collaborating closely on investment strategies that produce meaningful outcomes for investors.”

In another development, Schoen indicated that Adrian H. Chan will become a named Portfolio Manager on all Putnam GAA products. Chan, who has been with the firm for 16 years, is considered one of Putnam’s foremost experts on volatility, a critical consideration in the GAA investment process. Additionally, he has been leading Putnam’s efforts in developing custom indexing for the insurance channel.

About Brett Goldstein

Goldstein began his career at Putnam Investments in 2010 as part of the Investment Associate program, subsequently serving as an Analyst. Currently, he is responsible for the research and implementation of risk and portfolio construction methods across GAA products and also works extensively with retirement glide path research and GAA target-date funds. He is a Portfolio Manager of Putnam Dynamic Asset Allocation Funds (Growth, Balanced, and Conservative); Putnam Dynamic Risk Allocation Fund; Putnam Multi-Asset Absolute Return Fund; Putnam Retirement Advantage Funds; Putnam RetirementReady Funds; and Putnam 529 for America.

Goldstein has a B.S. in Applied Economics & Management and in Biometry & Statistics, and a Master of Professional Studies degree in Statistics from Cornell University. He holds the Chartered Financial Analyst designation.

About Putnam Global Asset Allocation

Putnam’s Global Asset Allocation team is one of the industry’s longest-tenured groups of asset allocation specialists. The team manages approximately $17 billion in assets in portfolios that hold a variety of investments and positions them to benefit from a wide range of opportunities and market conditions.

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 May 2021, Putnam had $198 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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37 Capital Expands Structured Credit Capabilities with Hiring of Industry Veterans to Focus on CLO Strategies for Marketplace

BOSTON, June 21, 2021 – 37 Capital, the alternative investments business of Putnam Investments, today announced that it has bolstered its collateralized loan obligation (CLO) and broader leveraged loan capabilities with the hiring of three highly-experienced investment professionals.

Scott M. D’Orsi (Portfolio Manager), Eric C. Vander Mel (Analyst) and Stephen L. Newton (Analyst), who worked together at First Eagle Investment Management for more than six years prior to joining Putnam, bring dedicated focus to the active build-out of 37 Capital-branded CLO offerings. D’Orsi reports directly to Putnam’s Michael V. Salm (Co-Chief Investment Officer of Fixed Income) and Brett S. Kozlowski (Co-Head of Structured Credit) and will work closely with Kaitlin M. May, Chief Operating Officer of 37 Capital, on the launch of this business initiative.

“We believe that structured credit offers a complexity premium that can be harvested by sophisticated investment managers who are able to combine fundamental credit analysis of underlying collateral with a deep understanding of the various securitization vehicles utilized in this space,” said Salm.
May, who will also become Head of Global Institutional Management at the end of the month upon the retirement of Jeffrey L. Gould, added, “In bringing onboard three highly-skilled credit investment professionals in Scott, Eric and Steve, we are making a strong commitment to generating long-term value for institutional investors through new product opportunities that combine decades of corporate credit expertise with specific capabilities related to CLOs.”

Salm indicated that the three new hires, with deep backgrounds in leveraged loans, high yield bonds and fixed income trading, will join Putnam’s broader fixed income team with strong portfolio management and research expertise in non-investment grade credit markets. As a firm, Putnam has an extensive history of bringing structured product solutions to clients and currently manages approximately $30 billion in structured credit, including RMBS, CMBS, and various prepayment strategies as of May 28, 2021.

Prior to joining Putnam, D’Orsi was a Managing Director, CLO Portfolio Manager and Head of Liquid Loans at First Eagle Investment Management, where he launched the CLO business of its predecessor company and led the launch of a number of CLOs. Earlier, D’Orsi held positions at Spear Leeds & Kellogg, CIBC World Markets, BancBoston Securities, Bank of Boston and Fleet Financial Group. He earned a B.A. in Economics from Yale University and an MBA from Babson College’s Franklin W. Olin Graduate School of Business.

Vander Mel has more than 25 years of credit experience including syndicated loan CLO management. Before joining Putnam, he was a Managing Director, Senior Analyst, at First Eagle Private Credit Advisors, where he specialized in broadly syndicated loan CLOs. Earlier, he held positions with Knight Capital, FBR Capital, Morgan Stanley, Fleet Securities and Fleet National Bank. He holds a B.A. in Economics from Colby College.

Newton brings more than 15 years of experience in fixed income research, CLO structuring and portfolio management. Most recently, he was a Director, Senior Credit Analyst, at First Eagle Private Credit Advisors. He previously held positions with Citizens Financial Group, Social Finance, Eaton Vance Management and Banc of America Securities. He earned a B.S. in Finance from Boston College and an MBA from Northwestern University’s Kellogg School of Management.

About 37 Capital

37 Capital is the global alternative asset management business of Putnam Investments, providing investment solutions across equities and credit. Portfolio managers employ an opportunistic investment approach that combines intensive fundamental research with a consistent focus on downside protection.

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 May 2021, Putnam had $198 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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Putnam Investments Launches Firm’s First Active ETFs

BOSTON, May 26, 2021 – Putnam Investments today announced the debut of its first actively managed exchange-traded funds (ETFs), which are based on four of the firm’s leading equity strategies. The new ETFs – Putnam Sustainable Leaders ETF (PLDR), Putnam Sustainable Future ETF (PFUT), Putnam Focused Large Cap Growth ETF (PGRO), and Putnam Focused Large Cap Value ETF (PVAL) – begin trading today on the New York Stock Exchange.

The new offerings represent the first ETF products from the company, which currently provides an array of retail mutual funds, separately managed accounts, collective investment trusts, private funds and non-U.S. funds.

“We are excited to enter the ETF marketplace today with the launch of active ETFs that employ Putnam’s time-tested, active management expertise,” said Robert L. Reynolds, President and Chief Executive Officer, Putnam Investments. “The introduction of these four ETFs delivers on our long-standing commitment to meet the evolving needs of investors by offering a broad range of vehicle options that access our deep, fundamentally-driven investment capabilities.”

The new active ETFs have underlying investment portfolios similar to existing Putnam mutual fund and separately managed account strategies, and utilize the same portfolio managers and research teams as those related products.

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

Explaining Putnam’s first foray into the ETF realm, Reynolds indicated, “We very deliberately chose four of our leading equity strategies, including two ESG-focused portfolios, to provide the marketplace with Putnam’s unique brand of active investing combined with the benefits of an ETF wrapper.”

The four active ETF strategies launched by Putnam today are:

  • Putnam Sustainable Leaders ETF (Ticker: PLDR)
    • Leadership focus: Invests in companies that are established leaders in financially
    • material sustainability issues
    • Managed by Katherine Collins and Stephanie Dobson
    • Total expense ratio of 59 basis points
  • Putnam Sustainable Future ETF (Ticker: PFUT)
    • Solutions focus: Invests in solutions-oriented companies that offer innovative ways to address key sustainability challenges
    • Managed by Katherine Collins and Stephanie Dobson
    • Total expense ratio of 64 basis points
  • Putnam Focused Large Cap Growth ETF (Ticker: PGRO)
    • Durable growth themes: Focuses on businesses that exhibit both a high level of growth and an above-average duration of growth
    • Managed by Richard Bodzy and Gregory McCullough
    •  Total expense ratio of 55 basis points
  • Putnam Focused Large Cap Value ETF (Ticker: PVAL)
    •  Disciplined process: Focuses on large companies whose stocks are priced below their long- term potential and where there may be a catalyst for positive change
    • Managed by Darren Jaroch and Lauren DeMore
    • Total expense ratio of 55 basis points

Putnam’s suite of ETFs will utilize the Fidelity tracking basket methodology for active equity ETFs. Fidelity’s tracking basket methodology and related features are designed to provide market makers with enough information to make effective markets in shares of the ETFs while also maintaining the confidentiality of portfolio holdings necessary for Putnam to execute these strategies for the benefit of investors.

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 2021, Putnam had $197 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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Putnam Investments TargetDateVisualizer to Help Advisors Gain Greater Perspective on Retirement Investing

BOSTON, May 10, 2021 – Today, Putnam Investments officially launched TargetDateVisualizer®, designed to help advisors better guide plan sponsors in selecting appropriate target-date mutual funds and collective investment trusts (CITs) for inclusion in workplace savings plans, based on specific risk-tolerance preferences and investment philosophy.

The dynamic evaluation tool seeks to provide greater clarity and insight into the underlying investment glide paths of over 100 different target-date strategies, as well as the portfolio risk levels and key performance characteristics of these popular retirement savings vehicles.

Utilizing a highly engaging and user-friendly interface, TargetDateVisualizer helps identify preferred target-date strategies based on how aggressive or conservative an advisor would like to be in the early and late stages of participants’ working lives – and also how they define success overall. TargetDateVisualizer takes these dynamics into account and allows advisors to better distill appropriate target-date options to consider for their clients.

In discussing Putnam’s new tool for the retirement marketplace, Steven P. McKay, Head of Defined Contribution Investment Only (DCIO) at Putnam said, “The journey and outcome of a target-date strategy is determined by a wide array of factors, including the underlying glide path and investment composition. Putnam TargetDateVisualizer was built to assist advisors and their clients in making greater sense of the numerous target-date strategies available — so they can more successfully identify those products that are best aligned with the needs of their plans’ objectives.”

TargetDateVisualizer: Adding a Strategic Lens to the Selection Process

TargetDateVisualizer works by analyzing the glide path of every target-date strategy, both mutual funds and CITs, with at least a three-year track record – 108 in total at present time. The tool employs an easy-to-use, interactive framework that asks a few key questions regarding investment philosophy and risk preferences, in both the early and late stages of a participant’s working life.

TargetDateVisualizer then frames how much equity sensitivity a target-date vintage has at critical points along the glide path. Subsequently, it plots the funds most aligned with the user’s risk-tolerance, resulting in a more focused set of options for consideration that can be compared head-to-head based on performance and other important risk factors. The final output provides detailed analysis that will allow advisors to document the entire review and/or selection process for their clients.

Target-date strategies offered by different asset managers may have many features in common, but no two are exactly alike,” said McKay. “In some cases, the differences can be difficult to determine, making it hard to select strategies that are right for the goals of the plan and its participants. With its product-agnostic approach, TargetDateVisualizer should prove to be enormously helpful to advisors when embarking on the challenging, but critically important process of identifying the optimal target-date strategy for their clients.”

Growth of Target-Date Funds

First developed in the 1990s, target-date funds grew rapidly in popularity after 2006, when the Pension Protection Act authorized them as a qualified default investment alternative in defined contribution retirement plans. Total assets in target-date strategies reached $2.8 trillion by the end of 2020, according to Morningstar.

About Putnam Defined Contribution Investment Only

With more than 30 years of experience working with defined contribution plan sponsors, advisors and consultants, Putnam DCIO offers an array of investment-only products and industry-leading support and service for the retirement marketplace, to help participants invest for their future. Putnam DCIO had approximately $32 billion in assets under management at the end of March 2021. Putnam offers two target-date series in the marketplace: Putnam Retirement Advantage Funds and Putnam RetirementReady Funds. Putnam’s retirement strategies are managed by the firm’s Global Asset Allocation team.

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 2021, Putnam had $197 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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Putnam Investments Names Kaitlin M. May to Lead Global Institutional Business

BOSTON, April 21, 2021 – Putnam Investments today announced that Kaitlin M. May will assume the role of Head of Putnam Global Institutional Management (PGIM) effective July 1, upon the retirement of Jeffrey L. Gould.

May, who is Chief Operating Officer of 37 Capital, Putnam’s alternatives business, will be responsible for overseeing the firm’s institutional asset management business, which serves investors and clients in North America, Europe, Asia and Australia. Based in Boston, she will report directly to Putnam CEO Robert L. Reynolds and serve on the firm’s Operating Committee.

photo of Kaitlin May

“Kaitlin is a talented, thoughtful leader with deep industry knowledge and experience serving global clients,” explained Reynolds. “As an organization, we see tremendous opportunity to build upon the meaningful progress and momentum that we have seen in our institutional business in recent years – and are excited about the vision and passion that Kaitlin will bring in addressing client needs around the globe.”

May will continue her responsibilities for 37 Capital and will additionally oversee Putnam’s Japan business and the firm’s Institutional Affiliates business.

In discussing Gould’s retirement, Reynolds noted, “Throughout his 23 years at Putnam, Jeff has been an outstanding leader and ambassador with all of the firm’s key stakeholders. One of the true hallmarks of his tenure has been always placing the client first. We wish him the very best in his future endeavors.”
Reynolds indicated that May will work closely with Gould in the coming weeks to ensure a seamless leadership transition.

About Kaitlin May

Before joining Putnam in September 2019, May held several roles spanning nine years with Apollo Global Management’s Global Client & Product Solutions Division, most recently as Managing Director, Head of Structuring and Product Creation from 2017-2019. She also served as a Product Specialist from 2011-2019 and as Chief Operating Officer from 2010-2017.

Previously, May served as Chief Operating Officer of Citi Property Investors, the real estate investment division within Citi Alternative Investments. Earlier, she worked at Citigroup, Inc. in the firm’s Strategy and Business Development Group. May began her career at Salomon Smith Barney as a financial analyst in the Financial Institutions Group of the Investment Banking Division, working in London and New York City. She earned a Bachelor of Arts degree in Genetics, Cell and Developmental Biology, cum laude, from Dartmouth College and an MBA from the Stanford Graduate School of Business.

About Putnam Global Institutional Management

Putnam Global Institutional Management serves the investment management needs of a wide array of institutions, including corporate pensions, sovereign wealth funds, insurance companies, endowments and foundations, and public and government plans. In total, Putnam manages approximately $98 billion in institutional assets as of March 31, 2021.

About 37 Capital

37 Capital is a global alternative asset management business, affiliated with Putnam Investments, providing investment solutions across equities and credit. Portfolio managers employ an opportunistic investment approach that combines intensive fundamental research with a consistent focus on downside protection.

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 March 2021, Putnam had $193 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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Putnam International Value Fund Earns 2021 Refinitiv Lipper Fund Awards

BOSTON, March 12, 2021Putnam Investments announced today that Putnam International Value Fund has received 2021 Refinitiv Lipper Fund Awards for Best International Large-Cap Value Fund in the five-year and 10-year performance categories, recognizing the fund’s superior risk-adjusted long-term investment results compared to its peers.

“We are pleased to be celebrated by Refinitiv Lipper with these prestigious honors acknowledging the strong, long-term performance of Putnam International Value Fund,” said Robert L. Reynolds, Putnam Investments President and CEO. “Receiving these highly sought-after awards is a testament to Putnam’s talented investment professionals, who are dedicated to delivering consistently outstanding performance on behalf of our clients and fund shareholders.”

Putnam International Value Fund R6 (PIGWX) received an award as the top performer for the five-year period within the International Large-Cap Value Fund category, out of 33 funds. Putnam International Value Fund Y (PNGYX) was honored as the leading performer out of 29 funds for the 10-year period in the category.

Managed by Darren A. Jaroch and Lauren B. DeMore, Putnam International Value Fund pursues its goal of capital growth by seeking to benefit from broad exposure to established large-cap non-U.S. companies.

In addition to its Refinitiv Lipper Fund awards, Putnam International Value Fund Y (PNGYX) outperformed its benchmark MSCI EAFE Value Index for the one-, three-, five- and 10-year periods ended December 31, 2020.

Putnam Investments has built a reputation for its strong long-term active management performance beyond Putnam International Value Fund. In February 2021, Barron’s Best Fund Families of 2020 ranked Putnam as the third-best fund family (out of 44) for its performance over the past 10 years.

About the Refinitiv Lipper Fund Awards

Since 2006, the Lipper Fund Awards have annually recognized 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 and now part of LSEG (London Stock Exchange Group) a leading global financial markets infrastructure and data provider. 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 February 2021, Putnam had $193 billion in assets under management. Putnam has offices in Boston, London, Frankfurt, Tokyo, Singapore and Sydney. For more information, visit www.putnam.com.


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Putnam Investments to Launch Active ETF Strategies

BOSTON, February 18, 2021 – Putnam Investments today announced that the firm will bring four of its key U.S. equity strategies to market this year in the form of semi-transparent active exchange-traded funds (ETFs), with the first of the products expected to be available in the spring, upon completion of the registration process. These offerings will represent the first ETF products provided by the company, which currently makes available an array of retail mutual funds, separately managed accounts, collective investment trusts, private funds and non-U.S. funds.

The investment strategies for the four initial ETF products will be similar to existing mutual funds with well-established track records, both in the ESG and large-cap equity areas, and will include: Putnam Sustainable Leaders ETF, Putnam Sustainable Future ETF, Putnam Focused Large Cap Growth ETF and Putnam Focused Large Cap Value ETF.

“Putnam Investments is excited to launch its first suite of actively managed ETFs, providing financial advisors and investors with another vehicle to access our firm’s key investment strategies,” said Robert L. Reynolds, President and Chief Executive Officer, Putnam Investments. “As a long-time active manager, Putnam is enthused to enter the active ETF marketplace, which we expect will gain meaningful traction in the years ahead.”

Commenting further, Putnam Chief Operating Officer Aaron Cooper explained, “In an effort to provide our clients with greater optionality in accessing the firm’s deep, expansive capabilities, Putnam will be combining its fundamentally-driven investment approach with the benefits offered by an ETF structure. Our goal is to deliver strong, risk-adjusted investment performance through an array of products, including traditional mutual funds, separately managed accounts, and soon, active ETFs.”

The four ETF strategies to be launched by Putnam include:

  • Putnam Sustainable Leaders ETF – Seeks long-term capital appreciation by investing mainly in common stocks of U.S. companies of any size, with a focus on companies that exhibit a commitment to sustainable business practices
  • Putnam Sustainable Future ETF – Seeks long-term capital appreciation by investing mainly in common stocks of U.S. companies of any size, with a focus on companies whose products and services provide solutions that directly contribute to sustainable social, environmental and economic development
  • Putnam Focused Large Cap Growth ETF – Seeks capital appreciation by investing mainly in common stocks of large U.S. companies, with a focus on growth stocks
  • Putnam Focused Large Cap Value ETF – Seeks capital growth and current income by investing mainly in common stocks of large and midsize U.S. companies, with a focus on value stocks that offer the potential for capital growth, current income, or both

Carlo Forcione, Head of Product and Strategy at Putnam, pointed to the firm’s continuing work to identify and offer the most compelling, solutions-oriented product lineup – including innovative strategies and vehicles – to best serve advisors and their clients in achieving long-term investment goals.

All four Putnam ETFs will utilize the Fidelity tracking basket methodology for active equity ETFs. Fidelity’s tracking basket methodology and related features are designed to provide market makers with enough information to make effective markets in shares of the ETFs, while also maintaining the confidentiality of portfolio holdings necessary for Putnam to execute these strategies for the benefit of investors.

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 2021, Putnam had $190 billion in assets under management. Putnam has offices in Boston, London, Frankfurt, 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 has not yet been declared 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.

Fidelity’s “tracking basket” methodology maintains confidentiality of a portfolio’s securities and trading strategies by disclosing a “tracking basket” comprised of select recently disclosed portfolio holdings, liquid U.S. ETFs that convey information about the types of instruments in which the fund invests, and cash and cash equivalents. This “tracking basket” is disclosed daily and is used to facilitate the creation and redemption process. Each ETF’s portfolio holdings will be disclosed on its website on a monthly basis with a 30-day lag.

No products or investment vehicles offered by PUTNAM INVESTMENTS are sponsored, endorsed, sold, or promoted by FIDELITY or any of its affiliates.


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Putnam Investments Named Sole Recipient of DALBAR Total Client Experience Award for the 10th Consecutive Year

BOSTON, January 12, 2021Putnam Investments today announced that for the 10th consecutive year it has been named the sole receipient of the Total Client Experience award from DALBAR, the financial community’s leading independent market research and consulting firm. Putnam has been the sole winner of the Total Client Experience award every year since its creation a decade ago.

The Total Client Experience award goes beyond DALBAR’s other service awards and 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, including the accurate execution and processing of transactions and requests while ensuring thorough security protocols.

“Delivering superior expertise, capabilities and resources to our clients and investors is at the heart of who we are at Putnam, and we are thrilled to be recognized again by DALBAR for the firm’s service excellence,” said Michael Woodall, Chief of Operations at Putnam Investments.

Karen Walsh, Head of Investor Services, added, “Receiving an award of this distinction once is exceptional; being its only recipient for 10 years in a row is extraordinary and speaks to the professionalism of our team and the effort they make each day to ensure the highest quality of service is consistently provided to our clients.”

For the past decade, Putnam has been recognized based on a multi-dimensional analysis of mutual fund customer service, focused particularly on three crucial areas: quality, accuracy and client security. Key award criteria include:

  • Authenticating callers properly to protect their shareholder 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

Overall, Putnam has been recognized by DALBAR for mutual fund service quality for 31 consecutive years. In addition to the Total Client Experience Award, the uninterrupted acknowledgement of Putnam’s work in this area includes the firm receiving an Excellence in Sales Support Award and being named a DALBAR Mutual Fund Service Award winner.

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 December 2020, Putnam had $191 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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Putnam Investments Recognized by DALBAR for Superior Sales Support to the Financial Advisor Community

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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Putnam Investments Recognized by DALBAR for Superior Client Service for 31st Consecutive Year

BOSTON, December 10, 2020Putnam 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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