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.