Putnam is taking the absolute return mandate from CEO Bob Reynolds to the next logical step in its effort to rebuild its 401(k) business. The WSJ
is among the media outlets that picked up
on the incluson of absolute return strategies in Putnam's 10 target-date funds.
Absolute return funds are the backbone to the fund firm's strategy unveiled at the start of this year by Reynolds. Those four earlier absolute return funds attempt to provide three-year returns 100 bps, 300 bps, 500 bps and 700 bps greater than Treasury bills. Those funds invest across equities, fixed income and commodity futures to achieve their objective.
The absolute return funds now have more than $500 million of assets. Since the funds' January launch, more than 3,600 advisors from 400 firms have sold the product, said Jeff Carney
, head of global marketing, products and
retirement, in an interview with The MFWire
Sean Hanna, Editor in Chief
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