Putnam Investments will unveil a new version of its Absolute Return 500 Fund. The Putnam Variable Trust Absolute Return 500 Fund will be used by insurance companies in variable annuities and other variable insurance products that they offer customers. The vehicle is designed to seek a positive return exceeding the rate of inflation, as reflected by Treasury bills, by 5% over a reasonable period of time regardless of market conditions. The fund will be managed by a team led by Jeffrey Knight, head of global asset allocation.
Click here for the release from Market Wire.