Watch for the team at a $197-billion-AUM (as of April 30) active mutual fund firm to prep additional alternative products and keep an eye on dealmaking opportunities.
| Robert Lloyd "Bob" Reynolds
"We offer hedge funds. We're doing a lot in the structured space," Bob Reynolds
, president and CEO of Putnam Investments
], tells MFWire
. "We're coming out with a CLO offering."
Reynolds also points to reverse mortgages as an area of interest for the Putnam team, as such offerings address "a real need in the retirement space," and a "huge opportunity" for firms like Putnam, Reynolds says.
"We're a player in that space," Reynolds adds.
And watch for the Putnam team to also expand their freshly launched lineup of active translucent ETFs, as previously reported
Meanwhile, Reynold confirms that he and his team "continually look at" M&A possibilities. He describes dealmaking as part of Putnam's DNA. (Putnam is owned by Great-West Lifeco, a publicly traded Canadian insurer that is majority-owned by another publicly traded company, Power Financial.)
"Either you want to add a capability that you don't have, or you may want to put scale in a particular area that you want to grow," Reynolds says.
"Doing this type of acquisition is easier said than done because of culture," Reynolds cautions. "We've been very deliberate but open
to the idea and concept
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