Putnam target-date strategies

Putnam target-date strategies

Investment diversification tailored to retirement


A long-tenured team offers experience in the markets to serve retirement investors.

A long-tenured team offers experience in the markets to serve retirement investors.

Putnam's Co-Heads of Global Asset Allocation

Clockwise from top left:

James A. Fetch (industry since 1994)
Robert J. Kea, CFA (industry since 1988)
Jason R. Vaillancourt, CFA (industry since 1993)
Robert J. Schoen (industry since 1990)

1994 Founding of the Global Asset Allocation team

$11B under management for institutions and individuals worldwide (as of 6/30/16)

24 years of investment experience on average

12 years of experience together at Putnam managing target-date retirement funds

Putnam Retirement Advantage Approach

Comprehensive active management

All levels of Putnam portfolio decisions are managed by our in-house Global Asset Allocation team, providing efficient management of costs and risks. The team created the glide path and also controls tactical asset allocation and security selection.

Consider these risks before investing: Our allocation of assets among permitted asset categories may hurt performance. Stock and bond prices may fall or fail to rise over time for several reasons, including general financial market conditions, factors related to a specific issuer or industry and, with respect to bond prices, changing market perceptions of the risk of default and changes in government intervention. These factors may also lead to increased volatility and reduced liquidity in the bond markets. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. Investments in small and/or midsize companies increase the risk of greater price fluctuations. Bond investments are subject to interest-rate risk (the risk of bond prices falling if interest rates rise) and credit risk (the risk of an issuer defaulting on interest or principal payments). Default risk is generally higher for non-qualified mortgages. Interest-rate risk is greater for longer-term bonds, and credit risk is greater for below-investment-grade bonds. Lower-rated bonds may offer higher yields in return for more risk. Funds that invest in government securities are not guaranteed. Mortgage-backed securities are subject to prepayment risk and the risk that they may increase in value less when interest rates decline and decline in value more when interest rates rise. International investing involves currency, economic, and political risks. Emerging-market securities carry illiquidity and volatility risks. Active trading strategies may lose money or not earn a return sufficient to cover trading and other costs. REITs are subject to the risk of economic downturns that have an adverse impact on real estate markets. Commodity-linked notes are subject to the same risks as commodities, such as weather, disease, political, tax and other regulatory developments and other factors affecting the value of commodities. Risks associated with derivatives include increased investment exposure (which may be considered leverage) and, in the case of over-the-counter instruments, the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations. Efforts to produce lower-volatility returns may not be successful and may make it more difficult at times for the fund to achieve its targeted returns. In addition, under certain market conditions, the funds may accept greater volatility than would typically be the case, in order to seek their targeted return. There is no guarantee that the funds will provide adequate income at and through an investor's retirement. You can lose money by investing in the funds.

Putnam target-date strategies

Putnam target-date strategies

Putnam Retirement Advantage Funds
Collective investment trusts


Putnam RetirementReady Funds
Mutual funds


Our thinking on glide paths

Our thinking on glide paths


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Resources

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