Putnam and BT end alliance
After ending an exclusive distribution arrangement with BT Funds Management, one of the world’s largest investment managers, Putnam Investments, is set to make its presence known on the Australian market.
The firm previously only sold its products in Australia through BT, but will now be offering a broad range of investment styles directly to institutional clients and through advisory platforms to retail.
It will also be offering quantitative products through PanAgora Asset Management, a majority-owned affiliate of Putnam.
The new strategic initiative is aimed at providing Putnam with the opportunity to grow its brand on a much broader scale within the Australian market and will be led by Peter Walsh.
Putnam Australia will be releasing two new products in May — the Putnam Worldwide Income Fund and Putnam Global Concentrated Fund.
Recommended for you
Sharing his reasoning in joining the FSC board, WT Financial chief executive, Keith Cullen, believes “product and advice cannot be separated” from each other in the current environment.
The Emerge Foundation, a charity run by financial advisers and fund managers, has announced a scholarship program to help veterans transition into tertiary education.
In an open letter, Sequoia chief executive Garry Crole has hit out against shareholders “with a personal axe to grind” as he fights for his job ahead of an EGM.
The JAWG has announced it is in talks with Treasury around five “core principles” to strengthen the education standards for new entrants to the financial advice space.