Moving target: Sky-high turnover in Putnam’s TDFs
Data shows an 83% flip rate over past three years; firm cites revamp of Retirement Ready line
Putnam Investments, MFS Investment Management and GuideStone Financial Resources market target date fund families with turnover well above the industry average — prompting industry observers to wonder if investors and advisers are aware of what they are investing in.
Lawmakers and fund providers
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