Putnam Investments is branching out into previously untapped markets, signing an agreement with Taiwan-based Cathay Securities Investment Consulting, a
subsidiary of Cathay Financial Holdings Company, to offer its mutual funds in Taiwan. Putnam will distribute 12 of the Dublin-based Putnam World Trust II mutual funds to both retail and institutional investors. -ed.
Boston-based Putnam Investments, one of
the world's largest investment managers, announced today that it has signed
an agreement with Taiwan-based Cathay Securities Investment Consulting, a
subsidiary of Cathay Financial Holdings Company to offer its mutual funds
in Taiwan.
Cathay Securities Investment Consulting will act as "master
agent," distributing 12 of the Dublin-based Putnam World Trust II mutual
funds to both retail and institutional investors in Taiwan. Additional
funds may be offered at a later date. Putnam World Trust II funds are
available in a variety of investment strategies including U.S. equity,
global equity, sector-specific and fixed income.
"We are pleased to work with Cathay Securities Investment Consulting, a
premier financial institution with extensive distribution channels to
promote our funds in Taiwan, said Jeffrey F. Peters, senior managing
director, head of international business, for Putnam. "The growing wealth
of Taiwanese investors and their increasing appetite for a broad range of
innovative fund products is fast creating a growing investment market for
fund managers within Taiwan. With this agreement, we enter the Taiwan
marketplace with a great partner that we believe positions us for long term
success."
Mr. Andrew Liu, Chairman of Cathay SICE said, "We are honoured to have the
opportunity to cooperate with Putnam Investments, a firm with distinguished
heritage, investment experience, and multiple capabilities. By representing Putnam funds in Taiwan, we are able to provide Taiwanese
investors with high-quality offshore funds, making the product range and
fund offerings of Cathay SICE more complete and diversified, with a full
range of overseas investment choices."
ABOUT THE COMPANIES
About Putnam Investments:
Founded in 1937, Putnam Investments is one of the world's oldest and
largest money management firms. As of March 31, 2007, Putnam managed $188
billion in assets, of which $119 billion is for mutual fund investors and
$69 billion is for institutional accounts. Putnam has offices in Boston,
London and Tokyo. For more information, go to www.putnam.com
About Cathay Securities Investment Consulting (Cathay SICE):
Cathay SICE, founded in November, 2002, is a member of Cathay Financial
Holdings in Taiwan. As part of our constant pursuit of superior
performance, Cathay SICE has built a team of top researchers, and operates
under the principle, "Strong roots, steady growth". In serving our clients,
the objective of Cathay SICE is to be diligent, reliable, and pragmatic,
with a singular focus on helping investors achieve their goals for a better
future.
With the rapid expansion of investment markets in Taiwan, demands for
overseas securities and investments amongst investors in Taiwan have been
increasing steadily. Cathay SICE actively provides offshore funds
investment consulting services, in addition to being the Master Agent for
Putnam World Trust II funds. 
Edited by:
Erin Kello
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