Putnam Investments Offers Three New Alterative Mutual Funds
Putnam Investments, a New England Council member, recently announced three new alternative mutual funds.
The three alternative funds are aimed at making profit under certain market conditions while hedging against the performance of vanilla stocks, which have no special or unusual features, or bond funds. The three new mutual funds will be managed by PanAgora Asset Management, a firm that Putnam has majority-ownership of. Putnam leadership hopes the added funds will attract new investors and expand the company’s offered investments.
“They’re obviously fairly sophisticated instruments. We’re responding to what we think the marketplace needs,’’ said Head of Global Investment Strategies, Scott C. Sipple.
The New England Council congratulates Putnam for the launch of these new mutual funds that will expand opportunities available to investors. Read more in The Boston Globe and Boston Business Journal.