Multi-Asset Absolute Return Strategy 

Putnam offers two multi-asset absolute return products, each with different return targets and corresponding risk levels.
Multi-Asset Absolute Return II is available in the pull-down menu.

Inception date Benchmark Total strategy assets Product literature
January 31, 2009 BofA Merrill Lynch U.S. Treasury Bill Index $2.9B (As of October 2017) Strategy profile (PDF)
  • Highlights
  • Performance

Objective**

This strategy seeks a positive return that outperforms a relevant cash benchmark by 7% over a full market cycle, with similar volatility regardless of market conditions.

Product highlights

We believe that the combination of efficient beta and flexible uncorrelated alpha provides diversification by philosophy

  • Dynamically allocates between four directional (equities, credit, rates, inflation) and several non-directional strategies
  • Shifts both the composition of risk and total level of risk to maximize risk-adjusted return potential
  • Can potentially be used as a structural core strategy to help dampen overall volatility, or as a complement to more traditional strategies

Investment team

Assets may include accounts that are not reflected in the composite.

**No assurance can be given that the investment objective will be achieved or that an investor will receive a return of all or part of his or her initial investment. Actual results could be materially different from the stated goals. Investors should carefully consider the risks involved before deciding to invest. As with any investment, there is a potential for profit as well as the possibility of loss.

The return objective is based on managing the strategy to a level of tracking error commensurate with the target return. The target return and standard deviation would result in a portfolio with a Sharpe ratio of 1. The target range is based on return expectations over the next market cycle for the asset classes typically represented in the strategy, including global equities, global bonds, commodities, REITS, and currencies. The strategy pursues these targets through investment across global bonds, stocks, or alternative asset classes and can adjust as opportunities change. Target returns represent results of statistical modeling and are provided for informational purposes only. Targets are presented for the purpose of communicating the intended risk profile of the investment opportunities that Putnam will pursue and are not intended to be projections of performance. Target returns are based on a number of assumptions, are subject to significant revision and may change materially with changes in underlying observations. No representations are made as to the accuracy of such observations and assumptions.