Putnam Sustainable Retirement 2045 Fund Class R6 is a target-date mutual fund designed to help investors prepare for retirement around the year 2045. Its primary function is to offer long-term capital appreciation and income by blending a diversified portfolio of underlying funds with an emphasis on sustainability. The fund invests mainly in other exchange-traded funds and mutual funds that focus on positive environmental, social, and governance (ESG) characteristics, reflecting a commitment to responsible investing. As a target-date fund, its asset allocation strategy evolves over time: in earlier years, it seeks higher growth through equity exposure, and as the target retirement date approaches, it gradually shifts towards more conservative investments to prioritize capital preservation and income. This dynamic allocation follows a predetermined glide path, which is regularly adjusted to account for the number of years remaining until the target date. The fund is intended for individuals planning to retire or begin planned withdrawals near 2045, and eventually transitions its holdings to reflect the needs of retirees, ultimately merging into the Putnam Sustainable Retirement Maturity Fund for ongoing income and capital preservation needs.
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