Putnam Investments Launches Firm’s First Active ETFs
May 26 2021 - 7:25AM
Business Wire
New ETFs Deploy Putnam’s Proven ESG and
Large-Cap Equity Strategies
Putnam Investments today announced the debut of its first
actively managed exchange-traded funds (ETFs), which are based on
four of the firm’s leading equity strategies. The new ETFs – Putnam
Sustainable Leaders ETF (PLDR), Putnam Sustainable Future ETF
(PFUT), Putnam Focused Large Cap Growth ETF (PGRO), and Putnam
Focused Large Cap Value ETF (PVAL) – begin trading today on the New
York Stock Exchange.
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Robert L. Reynolds, President and CEO of
Putnam Investments (Photo: Business Wire)
The new offerings represent the first ETF products from the
company, which currently provides an array of retail mutual funds,
separately managed accounts, collective investment trusts, private
funds and non-U.S. funds.
“We are excited to enter the ETF marketplace today with the
launch of active ETFs that employ Putnam’s time-tested, active
management expertise,” said Robert L. Reynolds, President and Chief
Executive Officer, Putnam Investments. “The introduction of these
four ETFs delivers on our long-standing commitment to meet the
evolving needs of investors by offering a broad range of vehicle
options that access our deep, fundamentally-driven investment
capabilities.”
The new active ETFs have underlying investment portfolios
similar to existing Putnam mutual fund and separately managed
account strategies, and utilize the same portfolio managers and
research teams as those related products.
The Putnam ETFs employ the firm’s established active investment
approach, characterized by rigorous fundamental research and
advanced risk management techniques – in the ultimate pursuit of
alpha generation for investors. At the same time, they have
attractive features that have made ETFs popular, including intraday
liquidity, tax efficiency and a competitive fee structure.
Explaining Putnam’s first foray into the ETF realm, Reynolds
indicated, “We very deliberately chose four of our leading equity
strategies, including two ESG-focused portfolios, to provide the
marketplace with Putnam’s unique brand of active investing combined
with the benefits of an ETF wrapper.”
The four active ETF strategies launched by Putnam today are:
- Putnam Sustainable Leaders ETF (Ticker: PLDR)
- Leadership focus: Invests in companies that are established
leaders in financially material sustainability issues
- Managed by Katherine Collins and Stephanie Dobson
- Total expense ratio of 59 basis points
- Putnam Sustainable Future ETF (Ticker: PFUT)
- Solutions focus: Invests in solutions-oriented companies that
offer innovative ways to address key sustainability challenges
- Managed by Katherine Collins and Stephanie Dobson
- Total expense ratio of 64 basis points
- Putnam Focused Large Cap Growth ETF (Ticker: PGRO)
- Durable growth themes: Focuses on businesses that exhibit both
a high level of growth and an above-average duration of growth
- Managed by Richard Bodzy and Gregory McCullough
- Total expense ratio of 55 basis points
- Putnam Focused Large Cap Value ETF (Ticker: PVAL)
- Disciplined process: Focuses on large companies whose stocks
are priced below their long- term potential and where there may be
a catalyst for positive change
- Managed by Darren Jaroch and Lauren DeMore
- Total expense ratio of 55 basis points
Putnam’s suite of ETFs will utilize the Fidelity tracking basket
methodology for active equity ETFs. Fidelity’s tracking basket
methodology and related features are designed to provide market
makers with enough information to make effective markets in shares
of the ETFs while also maintaining the confidentiality of portfolio
holdings necessary for Putnam to execute these strategies for the
benefit of investors.
About Putnam Investments
Founded in 1937, Putnam Investments is a global money management
firm with over 80 years of investment experience. At the end of
April 2021, Putnam had $197 billion in assets under management.
Putnam has offices in Boston, London, Frankfurt, Tokyo, Singapore
and Sydney. For more information, visit putnam.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210526005173/en/
Jon Goldstein – 617-760-1127 (office), 516-946-5598 (cell),
jon_goldstein@putnam.com
Laura McNamara – 617-760-1108 (office), 978-505-0524 (cell),
laura_mcnamara@putnam.com
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