BOSTON–(COMMERCIAL THREAD) – State Street Corporation (NYSE: STT) announced today that it has started working with Putnam Investments on serving the company’s first semi-transparent and actively managed exchange-traded funds (ETFs) management company ‘investment. Putnam is based on an actively managed, proxy-based ETF model for funds.

State Street continues to be an industry leader serving more than $ 5.5 trillion in ETF assets, representing nearly 60% of global ETF assets under management. Additionally, State Street remains committed to innovation, serving nearly 95% of U.S. semi-transparent active ETF assets.1

Putnam Investments recently announced the launch of its first actively managed ETFs, which are based on four of the company’s core equity strategies. The new ETFs – Putnam Sustainable Leaders ETF (PLDR), Putnam Sustainable Future ETF (PFUT), Putnam Focused Large Cap Growth ETF (PGRO) and Putnam Focused Large Cap Value ETF (PVAL) – are listed on the New York Stock Exchange.

“State Street remains committed to providing industry-leading service for actively managed ETFs as it continues to be an important and rapidly growing part of the ETF market,” said Frank Koudelka, Global ETF Product Specialist at State Street . “We are delighted to be partnering with Putnam in supporting their first foray into the exchange-traded fund market. ”

“With the recent launch of Putnam’s initial ETF offerings, our company is responding to changing client needs by providing fundamentals-driven investment capabilities through this exciting new vehicle,” said Carlo N. Forcione, Chief Product Officer and Putnam’s strategy. “Because of State Street’s distinguished position in the ETF ecosystem, we knew they were the right partner when we entered this important new market. ”

State Street currently provides back office services, particularly accounting and custody services, to the Boston-based investment management firm, which manages $ 200 billion in assets.

About Putnam Investments

Founded in 1937, Putnam Investments is a global fund management company with over 80 years of investment experience. At the end of July 2021, Putnam had $ 200 billion in assets under management. Putnam has offices in Boston, London, Frankfurt, Tokyo, Singapore and Sydney. For more information, visit putnam.com.

About State Street Corporation

State Street Corporation (NYSE: STT) is a leading global provider of financial services to institutional investors, including investment services, investment management, and investment research and trading. With $ 42.6 trillion in assets under custody and / or administration and $ 3.9 trillion * in assets under management as of June 30, 2021, State Street operates globally in more than 100 geographic markets and employs around 39,000 people worldwide. For more information, visit the State Street website at www.statestreet.com.

* Assets under management as of June 30, 2021 include approximately $ 64 billion in assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts only as marketing agent. SSGA FD and State Street Global Advisors are affiliated.

© 2021 State Street Corporation – All rights reserved

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1 Based on State Street internal research


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