In the Fund Track column Tuesday
, The Wall Street Journal
picked up on Putnam Investments'
new fund-of-funds offering. As reported Monday
, the Putnam Global Sector Fund
invests in eight of the nine funds in the company's Global Sector series, giving it exposure to the complete MSCI World Index.
, head of global marketing, products and retirement at Putnam, told WSJ that sector investing is on the rise, thanks to globalization. He is also confident that the Global Sector Fund will outperform similar index funds.
The fund, managed by Putnam's head of large-cap equity research Andrew Matteis, has a team of 30 domestic and 20 Asian and European analysts behind it.
, a fund analyst at Morningstar, commented, "The question is, 'Is it a better fund than a competing world-stock fund that doesn't necessarily dabble in each and every sector?' It's difficult to say. That really depends on how well the analysts pick stocks in each of those sectors."
Stay ahead of the news ... Sign up for our email alerts now