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
Centrepoint Alliance, the third-largest advice licensee, has reported 40 per cent growth in its managed accounts business, but profits fell by a third.
Prosperity Advisers Group, a mid-tier advisory firm, has surpassed $1 billion in funds under management, hitting this milestone following a “sustained period of growth for the firm”.
Forbes Fava Financial Planning has acquired Melbourne-based firm Financial Planit, taking “another key step” towards its long-term strategic growth plans for the region.
Self-licensing specialist My Dealer Services has announced partnerships with five businesses, including Morningstar and Peloton Partners, to expand its service offering.
