A Putnam news release said the new offerings include four funds with specific targets, each geared to meet different investor needs and each investing in a different mix of assets. They include:
- Putnam Absolute Return 100 Fund—seeks to outperform inflation by 1% as measured by T-bills
- Putnam Absolute Return 300 Fund—seeks to outperform inflation by 3% as measured by T-bills
- Putnam Absolute Return 500 Fund—seeks to outperform inflation by 5% as measured by T-bills
- Putnam Absolute Return 700 Fund—seeks to outperform inflation by 7% as measured by T-bills.
According to the company, the lead manager of Putnam Absolute Return 500 Fund and Putnam Absolute Return 700 Fund is Jeffrey Knight, deputy head of investments and chief investment officer, Global Asset Allocation. The lead manager of Putnam Absolute Return 100 Fund and Putnam Absolute Return 300 Fund is Rob A. Bloemker, Putnam Investments’ deputy head of investments and chief investment officer, Fixed Income.
The announcement said the funds offer advisers the tools to more precisely customize portfolios and help manage volatility no matter what markets do because the funds are designed to provide positive returns over time, with less volatility than more traditional offerings.
“Investors and financial advisers are hungry for solutions that target positive returns in good markets or bad and offer a way to venture back into investing,” said Putnam Investments President and CEO Robert Reynolds, in the release. “Diversification and commitment to absolute return strategies can be crucial to long-term investment success, and we believe investors will welcome the opportunity to invest in these funds.”