Putnam launches sustainable ETFs

The asset manager started four actively managed funds based on strategies employed in Putnam's mutual funds, including two ESG offerings.

Putnam Investments launched four actively managed exchange-traded funds Wednesday, its first ETF offerings and two of them are focused on sustainable investments.

The four funds, which began trading on the New York Stock Exchange, are: 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).

The ETFs, which the company announced in February, are based on equity strategies used by the asset manager’s mutual funds and managed accounts. Their expense ratios range from 55 basis points to 64 basis points.

Putnam has $197 billion in assets under management, including $97 billion in mutual funds.