Putnam Investments launched a family of four absolute return mutual funds designed to provide returns of 1%, 3%, 5%, or 7% above those of Treasury bills over a period of three years or more. In addition to the funds' specific return targets, each invests in a different mix of assets, according to the company. The four funds in the family are the:
Putnam Absolute Return 100 Fund, which seeks to outperform inflation by 1% as measured by T-bills; Putnam Absolute Return 300 Fund, which seeks to outperform inflation by 3% as measured by T-bills; Putnam Absolute Return 500 Fund, which seeks to outperform inflation by 5% as measured by T-bills; and Putnam Absolute Return 700 Fund, which seeks to outperform inflation by 7% as measured by T-bills.
TD Ameritrade Institutional will launch a new Unified Managed Account (UMA) program utilizing the third-party overlay portfolio management services of Placemark Investments. Advisors will be able to access fixed models and allocations based on research by Capital Market Consultants, and will also have freedom to select and configure investment vehicles and allocations based on their own strategies.
The Securities and Exchange Commission approved temporary exemptions allowing LCH.Clearnet Ltd. to operate as a central counterparty for credit default swaps. The exemptions will assist central counterparties such as LCH.Clearnet and certain of their participants to implement centralized clearing quickly, while providing the Commission time to review their operations and evaluate whether registrations or permanent exemptions should be granted in the future.