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Industry Spotlight > Advisors

Putnam Names New Co-CIO of Global Asset Allocation

By Michael S. Fischer

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What You Need to Know

  • Brett Goldstein and his colleague Robert Schoen will be responsible for strategy and positioning of GAA products.
  • Asset allocation presents an array of new opportunities for the marketplace, said Aaron Cooper, Putnam chief operating officer.
  • Adrian Chan, a 16-year Putnam veteran, will become a portfolio manager of the firm's GAA products.

Putnam Investments announced Monday that Brett Goldstein has been appointed co-chief investment officer of global asset allocation, effective June 30. He will also serve on the firm’s operating committee.

Goldstein has been a member of Putnam’s GAA group for 11 years, and is a portfolio manager on several of the firm’s multi-asset funds.

He and his co-chief investment officer, Robert Schoen, who has been in that position since November 2016, will be jointly responsible for the overall strategy and positioning of GAA products. 

Together, they will oversee portfolio construction and risk management for GAA portfolios and the research that drives equity security selection strategies.

“Asset allocation is an increasingly dynamic area of investing, presenting an array of new opportunities for the marketplace,” Aaron Cooper, Putnam’s chief operating officer, said in a statement. 

“The broad expertise and deep experience of Rob Schoen in the multi-asset arena, combined with the portfolio construction acumen of Brett Goldstein, particularly in the target-date investment sphere, will provide strong and strategic leadership in guiding the firm’s GAA efforts for the exciting journey ahead.”

Schoen noted in the statement that Putnam sees great potential for the development of new retirement offerings, multi-asset products focused on environmental, social and governance criteria, custom indexes, model portfolios and other dynamic offerings that can address many marketplace needs. 

In another development, Schoen said Adrian Chan, a 16-year veteran of the firm, will become a named portfolio manager of Putnam GAA products. 

Brett Goldstein

Goldstein started his career at Putnam Investments in 2010 as part of the investment associate program, and subsequently served as an analyst. At present, he is responsible for the research and implementation of risk and portfolio construction methods across GAA products, and also works extensively with retirement glide path research and GAA target-date funds. 

He is a portfolio manager of:

  • Putnam Dynamic Asset Allocation Funds (growth, balanced and conservative).
  • Putnam Dynamic Risk Allocation Fund.
  • Putnam Multi-Asset Absolute Return Fund.
  • Putnam Retirement Advantage Funds.
  • Putnam RetirementReady Funds.
  • Putnam 529 for America.

Goldstein has a Bachelor of Science degree in applied economics and management and in biometry and statistics, and a Master of Professional Studies degree in statistics from Cornell University. He holds the chartered financial analyst designation.

Michael S. Fischer

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