WEBCASTS

The opportunities in business development companies (BDCs)

Business development companies, or BDCs, may provide investors with an alternative source of income. BDCs generate relatively high yields and offer historically low correlation to non-equity asset classes. Their diversified loan structures help withstand multiple rate environments. In the upcoming webcast, Putnam Investments and VettaFi will highlight the benefits of business development companies to help financial advisors diversify and bolster their client portfolios’ yield-generating capabilities.

February 23, 2023
11am PT | 2pm ET
1 CE Credit
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SUMMARY

Topics will include:

  • What is a Business Development Company (BDC) and how are BDCs structured
  • Why BDCs are compelling investment opportunities in today's market environment
  • How BDCs have held up historically during market volatility
  • The benefits and risks of BDCs
  • How financial advisors can incorporate a BDC fund strategy to enhance an income portfolio

Pending acceptance for one hour of CFP/CIMA CE credit for live and on-demand attendees

CFA Institute members are encouraged to self-document their continuing professional development activities in their online CE tracker.

SPEAKERS

Michael C. Petro, CFA

Portfolio Manager, Investment Management
Putnam Investments

Lara Crigger

Editor-in-Chief
VettaFi

Disclaimer
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Important Disclosures

For additional information regarding the unique attributes and risks of the ETF, see disclosure below and the Principal Investment Risks section of the prospectus.

Visit Putnam.com to learn more and seize the opportunity in active ETFs.

Putnam Retail Management
100 Federal Street
Boston, MA 02110

For informational purposes only. Not an investment recommendation.

Consider these risks before investing: Business development companies (BDCs) generally invest in less mature U.S. private companies or thinly traded U.S. public companies, which involves greater risk than well-established publicly traded companies. The fund will be sensitive to, and its performance will depend to a greater extent on, the overall condition of the financials sector.

The use of leverage by BDCs magnifies gains and losses on amounts invested and increases the risks associated with investing in BDCs. A BDC may make investments with greater risk of volatility and loss of principal than other investment options and may also be highly speculative and aggressive. Certain BDCs may also be difficult to value since many of the assets of BDCs do not have readily ascertainable market values.

As a non-diversified fund, the fund invests in fewer issuers and is more vulnerable than a more broadly diversified fund to fluctuations in the values of the securities it holds. Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund’s other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund.

For information on risks associated with investing in each of the funds, please review the Principle Investment Risks section of the funds’ prospectuses accessible through www.putnam.com or by clicking here.

This message is intended for the recipient only and is not meant to be forwarded or distributed in any other format. This communication is for informational purposes only. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or security, or as an official confirmation of any transaction. Putnam does not accept purchase or redemptions of securities, instructions, or authorizations that are sent via email. All market prices, data, and other information are not warranted as to completeness or accuracy and are subject to change without notice. Any comments or statements made herein do not necessarily reflect those of Putnam Investments, LLC (DBA Putnam Investments) and its subsidiaries and affiliates. If you are not the intended recipient of this email, please delete the email. Information on how Putnam gathers and uses personal data is available in Putnam’s privacy notice, which can be found at https://www.putnam.com/policies.

Not FDIC Insured
May Lose Value
No Bank Guarantee

You should consider the fund’s investment objectives, risks, charges, and expenses carefully before you invest. This and other important information is contained in the fund’s prospectus available on Putnam.com or by calling 1-833-228-5577. Please read carefully before you invest.

Putnam ETFs distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Putnam Investments.

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