has at least one new non-'40 Act product planned for Putnam
. Reuters reports
that Reynolds wants the Boston-based fund firm to offer hedge fund portfolios within six to twelve months.
Reynolds, who launched absolute return mutual funds this year (see MFWire, 1/13/2009
), reportedly revealed his hedge fund ambitions on Friday at a conference at Boston College.
"It is a business we would like to get into," Reynolds reportedly said.
The move also meshes with Reynolds' hiring earlier this year of David Glancy
, founder of the hedge fund firm Andover Capital Advisors
Stay ahead of the news ... Sign up for our email alerts now