Putnam Investments Named Retirement Leader of the Year
April 08 2011 - 8:22AM
Business Wire
Putnam Investments was named the inaugural recipient of the
“Retirement Leader of the Year” award last night at the 18th annual
Mutual Fund Industry Awards in New York.* Putnam was recognized for
its leadership initiatives and innovative solutions in the
workplace savings arena, including its efforts to sharpen the focus
on retirement income and encourage the industry and policy makers
to further strengthen the workplace savings system.
“We are honored to be the first-ever recipient of this award,”
said Robert L. Reynolds, president and chief executive officer of
Putnam Investments. “There is an increasing need across the
retirement savings industry – for plan sponsors, 401(k)
participants, advisors and consultants, as well as policy makers,
and importantly, plan providers – to define ways to help working
Americans prepare financially for a dignified and sustainable
high-quality retirement. While the entire Putnam family is pleased
to have its efforts in this area recognized on such a prominent
stage, we will continue to use all of our resources and
capabilities each day to help solve this national challenge.”
Since Reynolds joined Putnam in July 2008, Putnam has announced
a series of actions designed to have positive, long-term impact on
the retirement market. Most recently, Putnam shared plans to offer
a unique suite of income-oriented mutual funds that shift the focus
from asset accumulation to asset distribution, to address changing
financial needs throughout an individual’s retirement. The funds,
working in tandem with a retirement income planning tool, will aim
to help advisors guide their clients, who are in or near
retirement, in developing strategies for monthly income flows,
based on varying levels of risk tolerance.
Advocacy For A Stronger Workplace
Savings System
Reynolds has long been an outspoken advocate for reforming and
revitalizing the nation’s public and private retirement systems. He
previously has called for universal adoption by workplace plans of
auto-enrollment, savings escalation and guidance to wise asset
allocation, all of which were authorized by the Pension Protection
Act of 2006. He also has called for extending the benefits of
workplace savings to workers who have no access to a job-based
retirement plan through ideas such as an Auto-IRA payroll deduction
proposal, and has called on Congress to adopt reforms to save
Social Security.
A Commitment to 401(k)
Innovation
In 2010, Putnam introduced a market leading participant and plan
sponsor web interface that has redefined the user experience and
changed the lens by which participants view their retirement
savings.
Lifecycle Funds Integrate Absolute
Return Strategies
Putnam also enhanced products aimed at the retirement market
such as the Putnam RetirementReady® Funds, the firm’s suite of 10
target-date/lifecycle retirement funds, which were the industry’s
first suite of lifecycle funds to integrate absolute return
strategies. By adding Putnam’s Absolute Return Funds, which seek
positive returns of 1%, 3%, 5%, or 7% above inflation over a period
of three years with less volatility than has been associated with
traditional asset classes that have earned similar rates of return,
this suite of target-date/life cycle funds can be especially
effective for those in or near retirement.
*About the Awards
The Annual Mutual Fund Industry Awards, presented by Fund
Directions and Fund Action recognize the funds, fund leaders,
marketers, trustees and independent counsel who stood out for their
successes, achievements and contributions in 2010. Winners are
chosen based on a number of factors including innovation, market
impact, uniqueness of approach, and how well they met other
criteria established by the editors for their award category.
About Putnam Investments
Founded in 1937, Putnam Investments is a leading global money
management firm with over 70 years of investment experience. The
firm was recently named one of the top 15 mutual fund families by
Barron’s/Lipper for the second consecutive year. At the end of
March 2011, Putnam had $127 billion in assets under management,
including mutual fund assets of $69 billion and institutional
assets of $58 billion. Putnam has offices in Boston, London,
Frankfurt, Amsterdam, Tokyo, Singapore and Sydney. For more
information, visit putnam.com.
Putnam mutual funds are distributed by Putnam Retail
Management.
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