Putnam Investments Offers ESG Retirement Series

Boston-based Putnam Investments is offering a new line of retirement funds based on sustainable investing strategies, the firm announced today.

Putnam Sustainable Retirement Funds is a target-date series of retirement savings funds that invest in actively managed sustainable and environmental, social and governance focused exchange-traded funds managed by Putnam.

The series uses a retirement glide path strategy similar to Putnam’s other target-date retirement strategies, such as the Putnam Retirement Advantage. It replaces the Putnam RetirementReady Funds.

The Putnam Global Asset Allocation team, which also manages Putnam Retirement Advantage, is responsible for the glide path and both the tactical and ETF allocations of the Putnam Sustainable Retirement target-date suite, Putnam said.

“As the retirement marketplace continues to evolve and grow, there is tremendous appetite for meaningful product innovation that creates greater choice of offerings to help working Americans achieve their financial goals,” Robert L. Reynolds, president and CEO of Putnam Investments, said in a statement.

The series was developed in part to respond to the growing interest in sustainable investing within the defined contribution retirement market, Steven P. McKay, Putnam’s Head of Global Defined Contribution Investment Only, said.

Putnam Sustainable Retirement Funds will invest in ETFs across asset classes managed by the firm, including:

• Putnam Sustainable Future ETF (NYSE Arca: PFUT)
• Putnam Sustainable Leaders ETF (NYSE Arca: PLDR)
• Putnam ESG Core Bond ETF (NYSE Arca: PCRB)
• Putnam ESG High Yield ETF (NYSE Arca: PHYD)
• Putnam ESG Ultra Short ETF (NYSE Arca: PULT)
• Putnam PanAgora ESG Emerging Markets Equity ETF (NYSE Arca: PPEM)
• Putnam PanAgora ESG International Equity ETF (NYSE Arca: PPIE)