Putnam’s Reynolds Fights Customer Flight Offering Six New Funds
This article is for subscribers only.
Putnam Investments LLC, the asset manager in its fifth year of a turnaround effort by Chief Executive Officer Robert L. Reynolds, introduced six new mutual funds, including two aimed at investors weary of stock swings.
Putnam is backing the products with a marketing campaign designed to persuade investors to diversify their holdings and prepare for more market swings, higher taxes and rising interest rates, the Boston-based company said today in a statement. The other new products are an emerging-markets bond fund, a global dividend-oriented stock fund and two municipal-bond funds.