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Putnam Investments, LLC

PRI reporting framework 2017

You are in Organisational Overview » Basic Information

Basic Information

OO 01. Signatory category and services

01.1. Select the services you offer.

% of assets under management (AUM) in ranges

01.2. Additional information. [Optional]

Our sole business is to manage money for our clients. With this singular business objective, our investment professionals are focused on meeting or exceeding our clients' expectations in pursuit of their investment goals. With fiduciary responsibility and personal integrity as the guiding principles of our business, we foster a culture of entrepreneurship and collaboration, a meritocracy where everyone shares in each other's successes on behalf of our clients.

OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

United States

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

1565 FTE

02.4. Additional information. [Optional]

Putnam’s global investment business is headquartered in Boston, Massachusetts. Our account management and client service professionals are regionally based so that they have a better understanding of local regulations and client needs. We have senior compliance personnel in London and Tokyo reporting into our Boston compliance team, but charged with ensuring compliance with regulatory authorities in their regions. Putnam has institutional account/client service management staff in Boston, Frankfurt, London, Singapore, Sydney, and Tokyo.

Total staff (OO 02.3) includes PanAgora, a Putnam subsidiary. 

OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.2. List your subsidiaries that are separate PRI signatories and indicate if you would like to report their RI activities in your organisation’s consolidated report.

Name of PRI signatory subsidiary

(Up to six subsidiaries may be reported)

RI implementation reported here
on a consolidated basis

03.3. Additional information. [Optional]

Putnam Investments owns approximately 80% of the voting stock of PanAgora Asset Management. Nippon Life Insurance (NLI), Putnam's strategic partner in Japan, owns the remaining 20%. The Putnam/NLI/PanAgora relationship dates to 1997. PanAgora operates as a fully autonomous business.

OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.


04.2. Indicate your total AUM at the end of your reporting year, excluding subsidiaries you have chosen not to report on.

Total AUM
trillions billions millions thousands hundreds
Assets in USD
trillions billions millions thousands hundreds

04.3. Indicate the total AUM at the end of your reporting year for subsidiaries you have excluded from your report

Total AUM
trillions billions millions thousands hundreds
Assets in USD
trillions billions millions thousands hundreds

04.4. Additional information. [Optional]

OO 06. How would you like to disclose your asset class mix

New selection options have been added to this indicator. Please review your prefilled responses carefully.

06.1. How you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)


Listed equity 10-50% 40 0 0
Fixed income 10-50% 49 0 0
Private equity 0 0 0 0
Property 0 0 0 0
Infrastructure 0 0 0 0
Commodities 0 0 0 0
Hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash 0 0 0 0
Other (1), specify 10-50% 11 0 0
Other (2), specify 0 0 0 0

'Other (1)' specified

          Other - Global Asset Allocation - Global Asset Allocation assets represent multi-asset portfolios that may include stocks, bonds, and other alternative asset classes.

06.2. Publish our asset class mix as per attached image [Optional].

06.3. Provide contextual information on your AUM asset class split. [Optional]

Putnam manages institutional portfolios, mutual funds, and alternative investments for individuals and businesses worldwide.

Putnam employs approximately 200 investment professionals, including portfolio managers, analysts and traders. Our Fixed Income, Global Asset Allocation and Equity teams have both dedicated research analysts within teams and quantitative and fundamental resources that are deployed across each division.

Fixed Income

Fixed Income management at Putnam employs a team-based approach, with day-to-day decision making performed by sector specialists: seasoned investment professionals responsible for bottom-up security selection within their respective areas of expertise. They cover a full range of markets and sectors, from global governments to emerging markets to corporate debt and securitized products. We believe that abundant opportunities exist outside traditional benchmarks, and our teams seek to identify the most attractive opportunities across a range of market segments. In today’s complex and rapidly changing bond markets, we believe that flexibility is critical in recognizing and exploiting investment opportunities, and we seek to ensure that our strategies maintain a nimble, dynamic approach. Each of our strategies, whether single-strategy or multi-sector portfolios, benefit from an integrated portfolio construction and risk management framework that seeks the optimal balance between return potential and volatility.


Our U.S. equity capabilities span all major asset classes, including Large Cap, Small Cap, and Multi-Cap, across three major investment styles — Blend, Growth, and Value. We also offer innovative solutions for institutional investors, including a dedicated strategy focused on total return opportunities in leveraged companies that has the flexibility to invest across all levels of the capital structure (bank loans, high-yield debt, convertibles, common equity, and warrants).

Our global and non-U.S. equity teams manage portfolios across investment styles — Blend, Growth, and Value. Within Global Equities, we offer broadly diversified strategies as well as sector-specific strategies. Non-U.S. offerings include broadly diversified international strategies of all cap sizes, as well as regional strategies such as European Core Equity, Asia Pacific Equity, and Emerging Markets Equity.

Organized by sector, our research analysts have significant experience in the industries they are covering, and share information to identify risks and opportunities on a global scale.

Global Asset Allocation

Our Global Asset Allocation Team, established in 1992, offers a wide range of risk and target-maturity strategies. The team has experience managing globally diversified multi-asset class portfolios since 1994, and has managed multi-asset absolute return and risk parity strategies since 2006. Composed of analysts, investment strategists, and portfolio managers, the team has refined a disciplined process for actively monitoring global markets to track short-, medium-, and long-term trends that influence asset class performance, and integrates quantitative analysis into its fundamental research techniques. In managing portfolios, the team has skills in security selection, tactical asset management, and in implementing a variety of hedging and leverage strategies with derivatives, such as currency positioning.

OO 07. Fixed income AUM breakdown (Private)

OO 08. Segregated mandates or pooled funds (Not Applicable)

OO 09. Breakdown of AUM by market (Private)