Putnam, the mutual fund arm of Marsh & McLennan Cos., has opened the ‘RetirementReady Funds’, which offer a mix of stocks, bonds, and capital-preservation instruments, according to CBS MarketWatch. Each of the funds, except for one entitled ‘RetirementReady Maturity Fund’, adjusts to be more conservative as time progresses. Putnam believes that this will bring optimal returns while adjusting risk appropriately according to the investment horizon, according to MarketWatch.
The fund’s target dates are divided into five-year increments starting at 2010 and ending in 2045. The Maturity Fund, which has a fixed allocation focuses mainly on bonds and the certain money-market vehicles, is geared to investors who believe that they are near to reaching their set retirement income goals, according to MarketWatch.
Putnam, rocked last year by the mutual fund trading scandal, had $209 billion in assets under management as of October 31.
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