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State Street Corp NYSE: STT-N

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State Street Services Putnam Investments' First Actively Managed, Semi-Transparent ETFs

Business Wire - Wed Aug 11, 8:40AM CDT

State Street Corporation (NYSE:STT) today announced that it has begun working with Putnam Investments on the servicing of the investment management firm's first actively managed, semi-transparent exchange traded funds (ETF). Putnam leverages a proxy-based actively managed ETF model for the funds.

State Street continues to be an industry leader servicing over $5.5 trillion in ETF assets, which is close to 60% of global ETF AUM. Additionally, State Street remains committed to innovation, servicing close to 95% of assets for the U.S. semi-transparent active ETFs.(1)

Putnam Investments recently announced the debut of its first actively managed ETFs, which are based on four of the firm's leading 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 a significant and rapidly-growing portion of the ETF market," said Frank Koudelka, Global ETF Product Specialist at State Street. "We're excited to collaborate with Putnam by supporting their first foray into the exchange traded fund marketplace."

"In recently launching Putnam's initial ETF offerings, our firm is addressing the changing needs of clients by delivering fundamentally-driven investment capabilities through this exciting new vehicle," said Carlo N. Forcione, Putnam's Head of Product and Strategy. "Based on State Street's distinguished position in the ETF ecosystem, we knew they were the right partner as we entered this important new market."

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

About Putnam Investments

Founded in 1937, Putnam Investments is a global money management firm 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 one of the world's leading providers of financial services to institutional investors including investment servicing, 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 approximately 39,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

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

(C) 2021 State Street Corporation - All Rights Reserved

3711171.1.1.GBL.RTL

(1) Based on State Street internal research

View source version on businesswire.com: https://www.businesswire.com/news/home/20210811005559/en/

SOURCE: State Street Corporation

Media Contact: 
State Street 
Brendan Paul
Bpaul2@statestreet.com 
+1 401 644 9182

Media Contact: 
Putnam Investments 
Jon Goldstein
jon_goldstein@putnam.com 
+1 617-760-1127
comtex tracking

COMTEX_391390577/1006/2021-08-11T09:40:00

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