On May 19, 2025, Franklin Templeton announced plans to convert 10 Putnam municipal bond mutual funds into exchange-traded funds (ETFs). This initiative marks a significant expansion of its municipal bond ETF lineup, following the acquisition of Putnam Investments in January 2024.
The conversions are expected to be completed between the fourth quarter of 2025 and the first quarter of 2026. This strategic move aims to meet investor demand for municipal bond strategies delivered in a more cost-efficient, flexible, and transparent ETF structure.
This development will further strengthen Franklin Templeton's U.S. ETF platform, which currently includes over 70 ETFs with approximately $32 billion in assets under management as of May 15, 2025. The firm is positioning itself as a leader in bringing active fixed income strategies to the ETF ecosystem.
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