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State Street services Putnam Investments’ first actively managed, semi-transparent ETFs


State Street Corporation has announced that it has begun working with Putnam Investments on the servicing of the investment management firm’s first actively managed, semi-transparent ETF. Putnam leverages a proxy-based actively managed ETF model for the funds.

State Street says that it remains committed to innovation, servicing close to 95 per cent of assets for the US semi-transparent active ETFs.

Putnam Investments recently announced the debut of its first actively managed ETFs, which are based on four of the firm’s leading equity strategies. The new ETFs – Putnam Sustainable Leaders ETF (PLDR), Putnam Sustainable Future ETF (PFUT), Putnam Focused Large Cap Growth ETF (PGRO), and Putnam Focused Large Cap Value ETF (PVAL) – are listed on the New York Stock Exchange.

“State Street remains committed to providing industry-leading service for actively-managed ETFs as it continues to be a significant and rapidly-growing portion of the ETF market,” says Frank Koudelka, Global ETF Product Specialist at State Street. “We’re excited to collaborate with Putnam by supporting their first foray into the exchange traded fund marketplace.”

“In recently launching Putnam’s initial ETF offerings, our firm is addressing the changing needs of clients by delivering fundamentally-driven investment capabilities through this exciting new vehicle,” says Carlo N. Forcione, Putnam’s Head of Product and Strategy. “Based on State Street’s distinguished position in the ETF ecosystem, we knew they were the right partner as we entered this important new market.”

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