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Rating:Putnam Offers an Absolutely New Take on College Savings Not Rated 4.0 Email Routing List Email & Route  Print Print
Friday, October 01, 2010

Putnam Offers an Absolutely New Take on College Savings

News summary by MFWire's editors

Bob Reynolds 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). 

Edited by: Neil Anderson, Managing Editor

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