Putnam Voyager: End of an Era
The "future of the fund industry" wasn't.
Loud Entrance, Soft Exit
On May 6, 2016, a chapter of mutual fund history ended. Putnam Voyager (PVOYX) was put to rest, with the quiet, little-reported announcement that it would be merged into sibling Putnam Growth Opportunities (POGAX).
Putnam Voyager was launched in 1969, a time in U.S. history that was socially troubled and financially sanguine. The stock markets had boomed for most of the previous two decades, and more seemed yet to come. A new breed of mutual fund had entered the scene--the “performance fund,” which jettisoned the usual mutual fund staple of blue chips for “go-go” emerging-growth companies.
John Rekenthaler does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.