Putnam Launches Sustainable Retirement Funds
Putnam Investments introduced the Putnam Sustainable Retirement Funds, a new set of target-date funds for people saving for retirement. This suite of offerings invests in actively managed ETFs focused on sustainability and ESG (environmental, social, and governance) and is managed by Putnam.
The Putnam Sustainable Retirement target-date suite is a series of retirement funds offered by Putnam. These funds, which include vintages for every five years from 2025 to 2065 and a maturity fund, are managed by the Putnam Global Asset Allocation team. The team follows a retirement glidepath philosophy similar to that of Putnam Retirement Advantage and is in charge of both the tactical and ETF allocations for the target-date suite.
“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."