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
As reports flow in of investors lining up to buy gold at Sydney’s ABC Bullion store this week, two financial advisers have cautioned against succumbing to the hype as gold prices hit shaky ground.
After three weeks of struggling gains, this week has marked a return to strong growth for adviser numbers, in addition to three new licensees commencing.
ASIC has banned a Melbourne-based financial adviser who gave inappropriate advice to his clients including false and misleading Statements of Advice.
KPMG has revealed how much CEO and chief investment officers at Australian family offices are earning, both in salary and bonus, and how they compare to international peers.
