MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, December 9, 2009 Reynolds Preps Two Retirement Income Funds Bob Reynolds wants to create a mutual fund that includes a guarantee. In an interview with InvestmentNews' Jessica Toonkel Marquez, the Putnam Investments president and CEO revealed that he plans to launch just such a fund in Q1 2009. He's also interested in creating a non-guaranteed retirement income mutual fund that combines absolute returns with puts and calls. "It's not a guarantee," Reynolds reportedly said. "But a guarantee in any shape or form depends on the economic viability of the wrapper." So who might wrap (i.e. insure) such new Putnam products? Reynolds told the pub that he hasn't chosen an insurer yet, but expect Putnam sister company and retirement plan provider Great-West Life and Annuity (both part of the Power Financial family) to have an advantage over the other options; earlier this year Putnam switched much of its new defined contribution retirement plan business to a new platform powered by Great-West. Printed from: MFWire.com/story.asp?s=23474 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |