Putnam Investments introduced the Putnam Sustainable Retirement Funds, a new set of target-date retirement funds. This suite of products is managed by Putnam and invests in actively managed ETFs focused on sustainability and ESG (environmental, social, and governance).
The Putnam Sustainable Retirement target-date suite is a collection of Putnam’s retirement funds. The Putnam Global Asset Allocation team manages these funds, which consist of vintages for every five years between 2025 and 2065 and a maturity fund. The team is responsible for both the tactical and ETF allocations for the target-date suite and adheres to a retirement glidepath philosophy comparable to Putnam Retirement Advantage.
“As the retirement marketplace continues to evolve and grow, there is a tremendous appetite for meaningful product innovation that creates a 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 happy to continue our commitment to providing differentiated active management strategies by adding Putnam Sustainable Retirement Funds to our line-up of investment products for plan sponsors and their participants,” he said.
Steven P. McKay, Head of Global Defined Contribution Investment Only at Putnam, said, “There is growing interest in sustainable investing in the defined contribution space, and we are excited to bring this innovative approach to target-date investing to the retirement savings market.”