On Friday, September 30, Putnam Investments will begin to offer two new transparent, actively managed, equity ETFs in the US, launching Putnam BDC Income ETF, concentrating in business development companies (BDCs), and Putnam BioRevolutionTM ETF, centred on companies operating at the intersection of technology and biology in the “biology revolution.”
The firm writes that one important milestone of the upcoming launch is that the Putnam BDC Income ETF will represent the first actively managed BDC ETF in the marketplace, investing in a host of BDC opportunities with an eye toward generating income for investors.
“Putnam is excited to bring these two dynamic new strategies to market as we seek to address the long-term investment needs of advisors and their clients,” says Robert L. Reynolds, President and Chief Executive Officer, Putnam Investments. “Our firm is focused on providing unique and differentiated offerings — delivered through a variety of vehicles — that tap Putnam’s deep investing expertise and exceptional research capabilities.”
The two transparent, active equity ETF strategies to be launched by Putnam on September 30 are:
· Putnam BDC Income ETF (NYSE Arca: PBDC)
Invests in exchange traded BDCs based in the US and registered with the SEC. BDCs generally invest in, lend capital to or provide services to privately held US companies or thinly traded US public companies.
Putnam has managed a similar non-public BDC-focused strategy for nearly five years
Managed by Michael Petro
· Putnam BioRevolutionTM ETF (NYSE Arca: iSYNB)
Invests in companies that seek to capitalise on the convergence of technological developments in the life sciences sector, including technology-enabling companies, synthetic biology companies, and companies that operate in industries that are likely to benefit from the biology revolution.
Managed by William Rives
“We have identified BDCs and advances in the biology sector as providing distinctive opportunities for investors in rapidly evolving sectors of the economy,” says Carlo Forcione, Head of Product and Strategy at Putnam Investments. “Our new ETFs represent innovative, early-to-market offerings that will align well with the portfolio construction needs of our clients and the broader marketplace.”
The two new ETFs available later this week will join the firm’s four existing active ETFs, launched by Putnam in May 2021: Putnam Focused Large Cap Growth ETF (NYSE Arca: PGRO), Putnam Focused Large Cap Value ETF (NYSE Arca: PVAL), Putnam Sustainable Future ETF (NYSE Arca: PFUT), and Putnam Sustainable Leaders ETF (NYSE Arca: PLDR).
