Coronavirus (COVID-19) News and Resources
Coronavirus (COVID-19) Webcasts
Subscribe to Free Daily Newsletters
Post a Job

Featured Jobs

Retirement Plan Administrator
SPS logo
SPS
(Telecommute)
ESOP Administrator
Blue Ridge ESOP Associates logo
Blue Ridge ESOP Associates
(Charlottesville VA / Telecommute)
Retirement Plan Consultant
Cetera Retirement Plan Specialists logo
Cetera Retirement Plan Specialists
(Telecommute)
401(k) Associate
Blue Ridge ESOP Associates logo
Blue Ridge ESOP Associates
(Charlottesville VA / Telecommute)
Retirement Plan Administrator
Steidle Pension Solutions, LLC logo
Steidle Pension Solutions, LLC
(Lebanon NJ)

Free Daily News and Jobs

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Get the BenefitsLink app LinkedIn
Twitter
Facebook

By Date   |   By Company Name


View More Press Releases by Putnam Investments

Press release:

Putnam Investments Introduces Lower-Cost Pricing Option on Firm’s Retirement Advantage Target-Date Fund Series

Issued by: Putnam Investments

Date: Feb. 20, 2018

Company’s New Share Class Expected to Bring Greater Level of Institutional Pricing to Defined Contribution Plans

BOSTON, February 20, 2018 -- Putnam Investments announced today the availability of a new highly competitive pricing option on its Putnam Retirement Advantage Funds, a series of 10 target-date funds designed for the retirement marketplace. Putnam class X shares have a management fee of 0.35% and are available to defined contribution plans that have a minimum of $5 million invested in Putnam Retirement Advantage Funds. The new class X shares symbolize the 10-year anniversary of the suite, which has experienced noteworthy growth in recent years.

“We regularly evaluate our product offerings in an ongoing effort to provide retirement plans with an exceptional slate of actively managed investment strategies at competitive prices,” said Steven P. McKay, Head of Defined Contribution Investment Only (DCIO) at Putnam Investments. “The addition of the new share class for our Putnam Retirement Advantages series underscores our commitment to deliver performance and value to plan sponsors — to ultimately help their participants meet their retirement goals.”

Putnam Retirement Advantage Funds are designed for plan participants who want the risk/return profile of their asset allocation glide path to reflect their projected retirement date. The funds are actively managed by Putnam’s Global Asset Allocation team, a highly experienced group with a strong long-term track record of pursuing multi-asset investment strategies.

Putnam Retirement Advantage Funds, which currently have $3.8 billion in assets under management, are collective investment trusts, a pooled vehicle structure that can help to keep costs competitive by providing lower operational expenses and enhanced fee flexibility.

“Putnam is laser-focused on addressing the issues most important to plan sponsors and consultants, including fees, transparency and performance. We see our role as a critical piece of the equation, as we work closely with retirement plan sponsors and their advisors in providing an array of effective and innovative traditional and non-traditional investment strategies for participants,” added McKay.

Putnam’s DCIO business, with $20 billion in assets, offers numerous investment options for defined contribution plans.

About Putnam Investments
Founded in 1937, Putnam Investments is a leading global money management firm with 80 years of investment experience. At the end of January 2018, Putnam had $177 billion in assets under management. For more information, visit putnam.com.

BL:hh

View More Press Releases by Putnam Investments


This is a press release issued by the company named above. BenefitsLink is not the author. Use of any information obtained from this release is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by BenefitsLink.

© 2020 BenefitsLink.com, Inc.