Sign up today and take advantage of member-only content — the kind of timely, cutting edge industry insight that only Money Management Executive can deliver.
  • Exclusive Online Only Content
  • Free Daily Email News Alerts
  • Asset Management Blogs

Putnam strengthen ties to Nissay

Putnam Investments has agreed to make an investment in Nissay Asset Management Corp. (NAMCO), a Japanese money manager, and help it develop a new product line.

Putnam will take a 10 percent stake in NAMCO, and the two companies are planning to develop a new line of investment trusts, which are similar to mutual funds. The two companies started working together in 1997 to develop products for institutional investors.

In July, the two companies developed the Nissay/Putnam Income Open Fund, their first investment trust product.