Putnam Investments plans to continue to aggressively expand its array of products even as market volatility has forced some competitors to retrench.
Robert L. Reynolds, the Boston-based company's president and chief executive officer, said he thinks there are a range of opportunities for Putnam to develop products for Boomers "as they age and the need for lifetime income solutions becomes more evident. We are trying to get there in a hurry with the right solution."
Since Reynolds took the helm at Putnam in July 2009, the company has added 15 mutual funds. It recently announced that it plans to launch a suite of three U.S. multi-cap equity funds by late September to provide investors and advisers with an approach to investing by style — value, core/blend, growth — regardless of market capitalization of the underlying securities.
Reynolds hopes these products provide advisers "flexibility to generate secure returns for clients." As of March 31, Putnam had $118 billion in assets under management.