Putnam Launches Suite of ESG Fixed Income and Equity Strategies
Global money management firm Putnam Investments announced today the launch of five new ESG-focused active ETFs, including two quantitative equity and three fixed income strategies. The equity ETFs will be sub-advised by Putnam affiliate PanAgora Asset Management.
The announcement marks the continued build out by Putnam of its ESG investing suite, including the launch last year of its first active ETFs, and the recent addition of an ESG-focused series to its retirement market offerings.
Robert L. Reynolds, President and Chief Executive Officer, Putnam Investments, said:
“We have seen growing interest from many corners of the marketplace for ESG investing across a range of asset classes – and are excited to introduce these new fixed income and quantitative equity ETFs to our lineup.”
The new fixed income strategies, Putnam ESG Core Bond ETF, Putnam ESG High Yield ETF, Putnam ESG Ultra Short ETF will invest in mainly investment-grade fixed income securities, mainly bonds that are below investment-grade in quality, and fixed income securities composed of short duration, investment-grade money market and other fixed income securities, respectively, each focused on companies or issuers that meet relevant ESG criteria or positive ESG metrics.
The equity strategies, Putnam PanAgora ESG International Equity ETF, focused on companies outside the US, and Putnam PanAgora ESG Emerging Markets Equity ETF will both seek long-term capital appreciation, with a focus on companies exhibiting positive ESG metrics.
Along with the ESG ETFs launched last year, the new strategies will serve as underlying investment components within the firm’s ESG-focused target-date series, the Putnam Sustainable Retirement Funds.
Carlo Forcione, Head of Product and Strategy at Putnam, said:
“These new products represent the ongoing evolution of Putnam’s ESG investment capabilities across asset classes, ultimately to help advisors and their clients construct robust portfolios. We are enthused to have these offerings join an expanding stable of Putnam actively managed ETFs in the market.”