With the new Department of Labor (DOL) rules on ESG funds, it should be no shock that mutual fund companies starting mutual fund offerings for 401(k) fund lineups.

Putnam has launched the Putnam Sustainable Retirement Funds that invest in actively managed, sustainable, and ESG-focused exchange-traded funds, and the funds are using a similar glide path as the firm’s other target-date offering, called Putnam Retirement Advantage.

Will this niche product that is subject to the whims of who is occupying the White House be successful? That is for time to decide.