Putnam Announces Distribution Rates for Open-End Funds
Putnam Announces Distribution Rates for Open End Funds
The "future of the fund industry" wasn't.
The $3.2 billion fund, launched in 1969, will be merged into smaller large-cap growth fund.
Putnam Investments LLC, the asset manager in its fifth year of a turnaround effort by Chief Executive Officer Robert L. Reynolds, introduced six new mutual funds, including two aimed at investors weary of stock swings.
This week in new hires, Putnam announced a new leadership team for its global asset allocation organization, and Steve Antonakes became acting deputy director of the Consumer Financial Protection Bureau.
If advisors were stunned by a finding from the Putnam Institute that the optimal retirement portfolio's equity allocation should be between 5% and 25%, they weren't alone. The study's author was also quite surprised.
Bob Reynolds, chairman and CEO of Boston-based Putnam Investments, said that the wave of regulations coming out of Washington won't end in 2010. Speaking at the Innovation and Growth Forum sponsored by Spectrem Group and FA magazine on October 13, Reynolds predicted that the U.S. will have a ...