Putnam Launches New Funds

Putnam Investments announced a new suite of income-oriented funds designed to help advisers better serve their clients' retirement issues.

The new offering will integrate absolute return funds that seek positive returns over a three-year period with less volatility than similar, traditional asset classes.

The new funds will be accompanied by a planning tool to create customized income strategies designed to address changing financial needs throughout retirement, Jeff Carney, Putnam's head of product and marketing, said.

Putnam's retirement income solutions are designed to focus on the "drawdown" phase, when investors withdraw the assets they have accumulated over a lifetime, Carney said. As such, these funds will complement Putnam's RetirementReady funds, a 10-fund suite of target-date/lifecycle funds, although they also can be used as a stand-alone solution.

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Wealth management
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