Putnam Investments of Boston launched a new fixed-income fund.
The Putnam Income Strategies Fund, introduced Tuesday, is designed for investors seeking current income and capital appreciation to help offset inflation. It is managed by Putnam's global asset allocation team.
The fund will invest in a diversified portfolio of U.S. and international bonds and stocks, typically allocating about 75% of its assets to bonds and 25% to stocks. The bonds will be diversified globally and include investment-grade and high-yield bonds and convertible securities. The stocks will include those of large companies with solid dividend histories; the fund will also invest in real estate investment trusts and may invest in small and midsize companies.
Putnam, a unit of Marsh & McLennan Cos. Inc., was managing $194 billion of assets on Aug. 31.
