continues to extend the distribution reach of Putnam
's [see profile
] absolute return mutual funds. Today the Boston Globe
's Todd Wallack reports
that the Boston-based mutual fund sibling of Great-West will soon launch its absolute return funds into a brand new Putnam 529 for America
college savings plan.
According to the Globe, neither Fidelity nor Vanguard has any plans to offer similar 529s powered by absolute return offerings. The Globe contrasts the Putnam plan with Fidelity's new 529 offering, which caters to nervous investors by instead allowing them to invest in an FDIC-insured savings account (which also provides tax benefits).
Neil Anderson, Managing Editor
Stay ahead of the news ... Sign up for our email alerts now