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Putnam FundsPutnam Funds - About usGeorge Putnam established Putnam fund in the year 1937. Putnam Funds is a universal fund management firm with 70 years of experience in money management. It has around 185$ billion of asset that is under management, 201 institutional investors and shareholders of around 9 million and many other retirements plan customers. Putnam Fund - History George Putnam founded Putnam Investments in 1937. He also started his mutual fund. He also has his offices in Tokyo and London and headquarter is in Boston . Since 1970, Putnam is known to be a subsidiary company. Companies like MC Lennan and Marsh, are said to be a global fund management organization. 1 st February 2007: - On 1 st Feb 2007 an announcement was made that a company called Great - West Lifeco had acquired Putnam. Great - West Lifeco is a subsidiary company of Power Financial Corp, and was based on Montreal with its interest in the industry which provides financial service globally and with 100$ billion of its assets which are under management. They suppose that the purchase will take in middle of 2007 with an approximate price of $3.9 billion. Other Achievements Like any other biggest complexes in United States under mutual funds, Putnam fund too has about $188 billion of asset. These assets lie under management with the company having more than 200 institutional clients, and share holders over 9 million who are participating in retirement plan. About The Company Putnam funds are involved in scandal related to mutual fund in 2003. the company admits that they will allow some of its investors and portfolio managers sell its funds. According to the agreement made with SEC and Office of the Commonwealth Secretary of Massachusetts, Putnam has to pay penalties of $110 million and compensation to settle the charges with federal regulators and the state. Putnam dropped total asset taking into consideration these events. Working Putnam funds offers about 76 mutual funds on top of many retirement products like IRAs and 401(k) s, also as well as retirement products such as IRAs and 401(k)s, unpredictable annuities, many insurance products. The company believes that the investors need modified advice so that they can create portfolios, which have diversified investments. The company normally distributes its money and annuities via advisors, banks, brokers, and financial planners. These financial advisors provide the company with very good investment advice. Reforms and Changes Putnam implemented changes and reforms from the year November 2003. In this they included that ED Haldeman will be replaced with Lawrence Lasser who is the CEO. They also appointed General Counsel, COO, CFO, compliance and CAO. On top of that, they declared the company as the first mutual fund company, which implemented Principles of Mutual Fund Protection, which is a standard for industry for conformity and protection of the investors. Putnam has a great strength in disclosing, recovering and has continually maintained its status. It has also been successful in winning acclaim devotion to resolve any issues and the moral values for efforts made by employees and investors. putnam_funds |