Putnam introduces funds in Taiwan

Putnam Investments, a Boston-based investment manager, today said it has signed an agreement with a unit of Cathay Financial Holdings Co. to offer Putnam mutual funds in Taiwan.
The Taiwan-based unit, Cathay Securities Investment Consulting, will act as “master agent,” distributing 12 of the Dublin-based Putnam World Trust II mutual funds to both retail and institutional investors in Taiwan, Putnam said in a release.
More funds may be offered later, the company said.
Putnam World Trust II funds are offered in a variety of investment strategies including U.S. equity, global equity, sector-specific and fixed income, Putnam said.
“The growing wealth of Taiwanese investors and their increasing appetite for a broad range of innovative fund products is fast creating a growing investment market for fund managers within Taiwan,” Jeffrey F. Peters, head of international business for Putnam, said in a statement.
“With this agreement, we enter the Taiwan marketplace with a great partner that we believe positions us for long term success.”
Putnam managed $188 billion in assets as of March 31.