Putnam Investments Launches Emerging Markets Ex-China ETF

FOR MEDIA USE ONLY

BOSTON, May 18, 2023 – Putnam Investments today announced the launch of Putnam Emerging Markets ex-China ETF, a new actively managed, transparent exchange-traded fund (ETF) with a distinct investment focus on emerging market companies, excluding investments in China and Hong Kong. The new ETF, which begins trading today on the New York Stock Exchange (NYSE Arca: PEMX), is managed by Brian Freiwald.

Putnam Emerging Markets ex-China ETF seeks long-term capital appreciation by focusing on emerging market companies that Putnam believes to have a durable competitive advantage, strong balance sheets and a potential for above-average profitability. As a general matter of investment policy, Putnam Emerging Markets ex-China ETF will invest at least 80% of its net assets in securities of emerging market companies — excluding those domiciled in, or whose stocks are listed for trading on an exchange in, China as well as companies domiciled in Hong Kong.

“We are excited to launch Putnam Emerging Markets ex-China ETF to help advisors and their clients gain important international investing exposure in their portfolios,” said Robert L. Reynolds, President and Chief Executive Officer, Putnam Investments. “In developing our slate of ETF offerings for the marketplace, we have strived to take a strategic and innovative approach in addressing investor needs.”

According to Carlo Forcione, Head of Product and Strategy at Putnam, today’s launch expands the firm’s active ETF roster to a total of twelve offerings. The first four ETFs were introduced in May 2021; two transparent actively managed equity ETFs began trading in September 2022; and five ETFs employing ESG-focused investment strategies were launched in January 2023.

The new ETF joins the firm’s growing and diverse range of actively managed ETF strategies across asset classes and investment styles:

  • Putnam BDC Income ETF (NYSE Arca: PBDC)
  • Putnam BioRevolutionTM ETF (NYSE Arca: SYNB)
  • Putnam Emerging Markets ex-China ETF (NYSE Arca: PEMX)
  • Putnam ESG Core Bond ETF (NYSE Arca: PCRB)
  • Putnam ESG High Yield ETF (NYSE Arca: PHYD)
  • Putnam ESG Ultra Short ETF (NYSE Arca: PULT)
  • Putnam Focused Large Cap Growth ETF (NYSE Arca: PGRO)
  • Putnam Focused Large Cap Value ETF (NYSE Arca: PVAL)
  • Putnam PanAgora ESG Emerging Markets Equity ETF (NYSE Arca: PPEM)
  • Putnam PanAgora ESG International Equity ETF (NYSE Arca: PPIE)
  • Putnam Sustainable Future ETF (NYSE Arca: PFUT)
  • Putnam Sustainable Leaders ETF (NYSE Arca: PLDR)

“Putnam has had meaningful positive momentum in its equities business in recent years, and we are delighted to continue to add to our growing roster of fundamentally oriented, actively managed equity ETFs. This new offering provides our clients and the broader marketplace with important choice and flexibility in emerging markets equity investing, without the typical heavy weighting of China,” said Forcione.

Freiwald, who serves as portfolio manager for the new ETF, also manages the firm’s other fundamentally oriented emerging markets equity strategies.

About Putnam Investments

Founded in 1937, Putnam Investments is a global money management firm with over 85 years of investment experience. At the end of April 2023, Putnam had $169 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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Putnam Investments Announces Sustainable Retirement Target-Date Funds

FOR MEDIA USE ONLY

BOSTON, February 10, 2023Putnam Investments today announced the availability of Putnam Sustainable Retirement Funds, a target-date series for the retirement savings marketplace. The suite invests in actively managed sustainable and environmental, social and governance (ESG)-focused exchange-traded funds (ETFs) managed by Putnam.

Implementing a similar retirement glidepath philosophy as the firm’s other target-date offering, Putnam Retirement Advantage , the series offers vintages for every five years from 2025 through 2065, along with a maturity fund. The Putnam Global Asset Allocation team, which also manages Putnam Retirement Advantage, is responsible for the glidepath and both the tactical and ETF allocations of the Putnam Sustainable Retirement target-date suite.

“As the retirement marketplace continues to evolve and grow, there is tremendous appetite for meaningful product innovation that creates greater choice of offerings to help working Americans achieve their financial goals,” said Robert L. Reynolds, President and Chief Executive Officer, Putnam Investments.

“Putnam is pleased to continue our commitment to delivering differentiated active management strategies by adding Putnam Sustainable Retirement Funds to our line-up of investment products for plan sponsors and their participants,” he explained.

In discussing the announcement, Steven P. McKay, Putnam’s Head of Global Defined Contribution Investment Only, said, “There is growing interest in sustainable investing within the defined contribution realm, and we are excited to deliver this innovative approach to target-date investing to the retirement savings marketplace.”

Putnam Sustainable Retirement Funds will invest in ETFs across asset classes managed by the firm, including:

*Sub-advised by PanAgora Asset Management, Inc.

Putnam Sustainable Retirement Funds succeed the Putnam RetirementReady® Funds.

About Putnam Investments

Founded in 1937, Putnam Investments is a global money management firm with over 85 years of investment experience. At the end of January 2023, Putnam had over $170 billion in assets under management. Putnam has offices in Boston, London, Munich, Singapore, Sydney and Tokyo. For more information, visit putnam.com.


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Putnam Investments Launches Fixed Income and Non-U.S. Equity Exchange-Traded Funds

FOR MEDIA USE ONLY

BOSTON, January 20, 2023Putnam Investments today announced that it has officially launched five new transparent, actively managed exchange-traded funds (ETFs) that begin trading today on the New York Stock Exchange.

Launching today are three fixed income ETF portfolios that build upon the longtime capabilities and experience of the Putnam Fixed Income team. Additionally, the firm is launching two non-U.S. equity strategies sub-advised by Putnam affiliate PanAgora Asset Management, Inc., which is well regarded in the industry for its quantitative equities expertise. Putnam is the sponsor/investment adviser on the five new ETFs.

“We think it is increasingly important to offer clients a range of investment products across asset classes delivered through a choice of product wrappers, such as ETFs, mutual funds and separately managed accounts,” said Robert L. Reynolds, President and Chief Executive Officer, Putnam Investments. “One of Putnam’s hallmarks has been its commitment to providing investment strategies that align with investors’ evolving needs. With today’s launch, Putnam is bringing a number of significant investment offerings to market in an ETF format,” he noted.

The new ETFs join the firm’s growing and diverse range of actively managed ETF offerings across asset classes and investment styles:

  • Putnam BDC Income ETF (NYSE Arca: PBDC)
  • Putnam BioRevolutionTM ETF (NYSE Arca: SYNB)
  • Putnam ESG Core Bond ETF (NYSE Arca: PCRB)*
  • Putnam ESG High Yield ETF (NYSE Arca: PHYD)*
  • Putnam ESG Ultra Short ETF (NYSE Arca: PULT)*
  • Putnam Focused Large Cap Growth ETF (NYSE Arca: PGRO)
  • Putnam Focused Large Cap Value ETF (NYSE Arca: PVAL)
  • Putnam PanAgora ESG International Equity ETF (NYSE Arca: PPIE)*
  • Putnam PanAgora ESG Emerging Markets Equity ETF (NYSE Arca: PPEM)*
  • Putnam Sustainable Future ETF (NYSE Arca: PFUT)
  • Putnam Sustainable Leaders ETF (NYSE Arca: PLDR)
    *Launched January 20, 2023

“We are enthused about extending our ETF product shelf into the actively managed fixed income and non-U.S. equity spaces,” said Carlo Forcione, Head of Product and Strategy at Putnam. “Today’s newly launched ETFs are powered by strong existing investment capabilities and demonstrate the firm’s continuing focus on providing an array of compelling offerings in asset classes that are important to our clients and the broader marketplace.”

The five new Putnam ETFs, which employ an environmental, social and governance (ESG) focus, are:

Putnam ESG Core Bond ETF (NYSE Arca: PCRB): Seeks 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 invests mainly in bonds of governments and private companies located in the United States that are investment grade in quality with intermediate- to long-term maturities (three years or longer). Portfolio Managers: Michael Salm, Andrew Benson, Albert Chan and Sri Mahanti.

Putnam ESG High Yield ETF (NYSE Arca: PHYD): Seeks high current income, with capital growth as a secondary goal when consistent with achieving high current income. The fund invests 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 invests with a focus on companies or issuers that Putnam believes meet relevant ESG criteria on a sector-specific basis. Portfolio Managers: Rob Salvin and Norm Boucher.

Putnam ESG Ultra Short ETF (NYSE Arca: PULT): Seeks as high a rate of current income that Putnam believes is consistent with preservation of capital and maintenance of liquidity. The fund invests 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 on a sector-specific basis. Portfolio Managers: Joanne Driscoll, Andrew Benson and Michael Lima.

Putnam PanAgora ESG International Equity ETF (NYSE Arca: PPIE): Seeks 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 based on a proprietary framework using quantitative models. Portfolio Managers: George Mussalli and Richard Tan.

Putnam PanAgora ESG Emerging Markets Equity ETF (NYSE Arca: PPEM): Seeks 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 based on a proprietary framework using quantitative models. Portfolio Managers: George Mussalli and Richard Tan.

Additionally, the new fixed income and non-U.S. equity ETFs, along with the existing Putnam Sustainable Leaders ETF and Putnam Sustainable Future ETF, will serve as underlying investments for the firm’s planned ESG-focused target-date series, the Putnam Sustainable Retirement Funds. This new suite is expected to be implemented in the coming weeks through a repositioning of the existing Putnam RetirementReady® Funds target-date series.

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 goals.

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 2022, Putnam had $165 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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Putnam Investments Receives DALBAR Service Award for 33rd Consecutive Year

BOSTON, December 14, 2022 – In recognition of the firm’s steadfast commitment to client service excellence, Putnam Investments was awarded top honors for the 33rd consecutive year with a DALBAR Service Award. In addition, Putnam was the only firm to receive the Total Client Experience Award for the 12th consecutive year. DALBAR is regarded as a leading independent market research and consulting firm for the financial services industry.

“Our goal each and every day has long been to far exceed industry service standards for our clients,” said Michael J. Woodall, Chief of Operations at Putnam Investments. “Our achievements in this area are the result of a tremendous work ethic and unwavering dedication from our service team, who consistently go above and beyond to ensure our clients receive a top-notch experience from Putnam. We are deeply honored to receive these two premier DALBAR awards, which symbolize Putnam’s commitment to excellence.”
Dalbar logo

The two awards won by Putnam are:

  • DALBAR Mutual Fund Service Award, which is for the highest level 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 earned a DALBAR Service Award for 33 consecutive years.
  • DALBAR 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.

“Putnam’s laser focus on providing consistent, dependable, and exceptional service yields a high-quality experience for our clients,” said Karen L. Walsh, Head of Investor Services at Putnam Investments. “We place great emphasis on accuracy, reliability, and time sensitivity while utilizing the latest technology in meeting client needs. I am enormously proud of our team’s ongoing performance, which is second to none in our industry.”

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 2022, Putnam had $171 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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Putnam Investments to Launch Two Innovative Active ETFs

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

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

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

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

Putnam BDC Income ETF (NYSE Arca: PBDC)

  • Invests in exchange traded BDCs based in the U.S. and registered with the SEC. BDCs generally invest in, lend capital to or provide services to privately held U.S. companies or thinly traded U.S. public companies
  • Putnam has managed a similar non-public BDC-focused strategy for nearly five years
  • Managed by Michael Petro

Putnam BioRevolutionTM ETF (NYSE Arca: SYNB)

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

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

Active ETF Lineup at Putnam

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

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

About Putnam Investments

Founded in 1937, Putnam Investments is a global money management firm with over 80 years of investment experience. At the end of August 2022, Putnam had $169 billion in assets under management. Putnam has offices in Boston, London, Munich, Singapore, Sydney and Tokyo. For more information, visit putnam.com.


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Putnam Investments names Jacquelyn S. VanderBrug as Head of Sustainability Strategy

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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Putnam Investments to Launch Fixed Income and Quantitative Equity ESG Investment Strategies

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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Putnam Investments to Create Suite of Sustainable Retirement Target-Date Funds

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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Putnam Investments’ Sumedh Mehta Honored as Chief Information Officer of the Year

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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Putnam Investments to Launch Three Active Equity Exchange-Traded Funds

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 BioRevolutionTM 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 BioRevolutionTM 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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