Since their introduction in January, Putnam Investments' family of absolute-return mutual funds has attracted more than $400 million of new investment assets and, according to the Boston investment management company, is on track to top $1 billion by yearend.

"We've seen incredible response across the industry," said Jeffrey Carney, a senior managing director and head of global marketing, products and retirement at the investment management firm. "We expect our funds to be one of the most successful fund launches of the year."

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