The low hanging fruit may have already been picked in “alternatives.” And yet, Putnam has announced three new Alt mutual funds. We’ve seen this movie before (see here and here).
Putnam Investments plans to introduce three new alternative types of mutual funds that will be managed by PanAgora Asset Management, a Boston firm that typically manages money for institutions and is majority-owned by Putnam.
The new funds include one aimed at investing money under “varying economic conditions,” and another that’s market neutral — or long/short fund — meaning the managers buy stocks they believe will rise, and bet against others they think will fall.
The third is a managed futures fund, which will use derivatives, or investments linked to the movements of other securities.
Read more here.
