Friday, February 01, 2013
Bob Reynolds Shakes Up His Asset Allocation Team
Reported by Ben Geier
] global asset allocation division has a new team at the top.
The division, which manages multi-asset class portfolios, will now be headed by James Fetch
, Robert Kea
, Robert Schoen
, and Jason Vaillancourt
, according to a company news release. Former group leader Jeff Knight
has left Putnam
The four new team leaders are Putnam GAA veterans. They are expected to "work closely" with Walter Donovan
, Putnam's chief investment officer.
For more details, read the company news release below.
Company Press Release
PUTNAM ANNOUNCES NEW GLOBAL ASSET ALLOCATION LEADERSHIP TEAM
Putnam GAA Veterans James Fetch, Robert Kea, Robert Schoen, and Jason Vaillancourt Named Co-Heads
BOSTON, February 1, 2013 — Putnam Investments today announced a new
leadership structure for its Global Asset Allocation (GAA) investment
organization, which manages specialized multi-asset class portfolios – for
retail and institutional clients – that seek to generate efficient,
risk-adjusted returns. Effective immediately, the team will be led by
Co-Heads James Fetch, Robert Kea, Robert Schoen, and Jason Vaillancourt.
All four Co-Heads are long-time Putnam GAA veterans, who average 22 years
of overall investment experience, including a combined nearly 75 years of
experience at Putnam.
Working closely with Walter C. Donovan, Chief Investment Officer at Putnam,
the new leadership team will be responsible for overall strategy and
positioning of the GAA products, which include asset and risk allocation,
absolute return, and retirement and college savings. GAA’s 13-person group
manages approximately $10 billion in assets for a variety of clients.
“It is rare in the asset management business to have such a finely tuned
and exceptionally talented investment unit with a number of key team
members having worked the markets together day-in, day-out for nearly 15
years, like Putnam’s GAA group,” said Donovan. “Under this strong
leadership team, Putnam GAA will continue to provide a range of
sophisticated, yet practical, investment strategies to both the
institutional and retail marketplaces, designed to address some of the
greatest financial challenges of our day.”
Consistent with the current approach, Fetch continues to lead portfolio
construction and risk, Kea drives top-down equity efforts, Schoen oversees
equity process and risk, and Vaillancourt manages global macro efforts. As
a team, they will continue to manage the Putnam Absolute Return 500 Fund®,
Putnam Absolute Return 700 Fund ®, Putnam Dynamic Asset Allocation Funds,
Putnam Dynamic Risk Allocation Fund, Putnam Retirement Income Lifestyle
Funds, Putnam RetirementReady® Funds, Putnam’s Total Return institutional
portfolio, and portfolios within Putnam 529 for AmericaSM.
Jeff Knight, who previously led the group, has left the firm to pursue
Fetch, who has been in the investment industry for nearly 20 years, joined
Putnam in 1994. He has a B.S. degree from the University of Notre Dame,
and an M.B.A. from the University of Chicago.
Kea, a 25-year industry veteran, joined Putnam in 1989. He has a B.A.
degree from the University of Massachusetts, Amherst, and an M.B.A. from
Schoen, who has nearly 25 years of investment industry experience, joined
Putnam in 1997. He has a B.A. degree from Tufts University and an M.B.A.
from New York University, Stern School of Business.
Vaillancourt, who brings 20 years of investment industry experience, has
been with Putnam since 2000. He has a B.S. from Northeastern University and
an M.B.A. from the University of Chicago.
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