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BUSINESS
By Charles Jaffe and Charles Jaffe,Marketwatch | February 20, 2007
It was an interesting question, worded poorly. "Will Putnam Investments' sale to a unit of Power Financial Corp. prompt you to re-evaluate whether to recommend Putnam's mutual funds to clients?" InvestmentNews, which covers the securities world for financial advisers, asked the question in a poll on its Web site, and while the results were entirely unscientific and the sample was small, the answer was telling for consumers in several ways. Thirty percent of the respondents said they would re-evaluate Putnam's funds.
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BUSINESS
By Charles Jaffe and Charles Jaffe,Marketwatch | February 20, 2007
It was an interesting question, worded poorly. "Will Putnam Investments' sale to a unit of Power Financial Corp. prompt you to re-evaluate whether to recommend Putnam's mutual funds to clients?" InvestmentNews, which covers the securities world for financial advisers, asked the question in a poll on its Web site, and while the results were entirely unscientific and the sample was small, the answer was telling for consumers in several ways. Thirty percent of the respondents said they would re-evaluate Putnam's funds.
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NEWS
September 8, 1994
Putnam names Metz to Golden Scale CouncilPutnam Mutual Funds President William Shiebler has announced that Richard A. Metz, an investment professional with Carroll County Bank and Trust Co., has qualified for membership in Putnam's 21st Annual Golden Scale Council.The council recognizes outstanding achievement by investment professionals.Established in 1937, Putnam Investments is among the oldest and largest money management firms in the United States. It manages more than $90 billion for more than 3.8 million shareholder accounts and more than 300 institutional portfolios.
BUSINESS
By CHARLES JAFFE | October 3, 2006
The mutual fund industry is buzzing with news that two of its bigger players - Putnam Investments and MFS Investment Management - are up for sale. Both firms are old-line, big-name management companies that sell their wares through financial advisers. Both have suffered in recent years from a company-choking mix of mediocre-at-best performance and bad headlines, having been on the wrong side of the fund industry scandals of 2003. Looking forward to when their respective parents find suitable deals, both companies can be an example for fund shareholders of how to react when your manager goes through a merger, whether it is the firm buying new assets or the one giving up the chase.
BUSINESS
By Knight-Ridder News Service | May 23, 1993
Watch closely, investors. You are about to witness a disappearing act.Putnam Investments says it will merge its Strategic Income Trust with its much smaller Equity Income Fund.Critics say the move would allow the Boston company to erase the below-average investment record it has with Strategic Income Trust.The fund has a 10-year return that averages about 9.5 percent, compared with 16.19 percent for the Standard & Poor's 500-stock index. It has beaten the index only three times since 1977.
BUSINESS
By JOEL HAVEMANN and JOEL HAVEMANN,LOS ANGELES TIMES | March 11, 2006
WASHINGTON -- Jobs grew at a healthy clip in February, the government reported yesterday, helping boost payrolls to their highest annual increase in more than four years while encouraging more jobless to re-enter the labor force. The stronger-than-predicted net increase of 243,000 jobs was the largest gain in any of the past 12 months except for last November, when the economy was shaking off the effects of Hurricane Katrina. It compared to revised increases of 170,000 jobs in January and 145,000 in December, the Labor Department reported.
BUSINESS
By BLOOMBERG NEWS | March 25, 2004
WASHINGTON - Putnam Investments, the first fund company formally accused of wrongdoing in the state and federal probes of alleged improper trading, should pay a penalty of "hundreds of millions of dollars," the Securities and Exchange Commission says. Putnam, the sixth-biggest U.S. mutual fund manager, and the SEC are arguing in an administrative proceeding over how big a fine the Boston company should pay for failing to stop six of its fund managers from allegedly making so-called market timing trades that lowered returns for shareholders.
BUSINESS
By Julius Westheimer | December 23, 1998
Should you buy stocks or mutual funds?"Investors should buy individual stocks only if they have more information, experience and wisdom than professionals," says Sir John Templeton, founder of the Templeton family of mutual funds. "Otherwise, they'd do better to buy mutual funds to receive professional management and diversification."But in this volatile market, do both stocks and mutual funds worry you? Here's another idea: "Tax-free bonds offer good returns," says Business Week, Dec. 28. "There's plenty of room for appreciation plus good income and at present many long-term municipals yield as much as Treasuries."
BUSINESS
By THE BOSTON GLOBE | January 28, 2004
Looking to repair its damaged reputation, Putnam Investments said yesterday that it would cut the fees it charges investors and disclose more information about how portfolio managers are paid. The initiatives follow tighter internal controls and restrictions on employee trading that Putnam agreed to as part of a settlement with federal regulators of civil securities fraud charges. They "are all done toward regaining trust and confidence in the Putnam name, and we'll be doing more things until we get it right," said Charles "Ed" Haldeman Jr., who became chief executive Nov. 3 in a shake-up sparked by a trading scandal.
NEWS
By Bill Atkinson and Paul Adams and Bill Atkinson and Paul Adams,SUN STAFF | November 2, 2003
About 95 million Americans rely on mutual funds to invest and protect trillions in savings that they hope to use to educate their children, buy new homes and help fund their retirements. But a growing scandal in which a number of firms have been accused of cheating small investors to help their largest customers is causing many to lose faith in the industry. "I think it is probably the most significant undermining of the public interest since any of these corporate scandals first erupted," Arthur Levitt, former chairman of the Securities and Exchange Commission, said in an interview with The Sun on Friday, as investors pulled their money out of Boston-based Putnam Investments, which faces federal and state fraud charges.
BUSINESS
By JOEL HAVEMANN and JOEL HAVEMANN,LOS ANGELES TIMES | March 11, 2006
WASHINGTON -- Jobs grew at a healthy clip in February, the government reported yesterday, helping boost payrolls to their highest annual increase in more than four years while encouraging more jobless to re-enter the labor force. The stronger-than-predicted net increase of 243,000 jobs was the largest gain in any of the past 12 months except for last November, when the economy was shaking off the effects of Hurricane Katrina. It compared to revised increases of 170,000 jobs in January and 145,000 in December, the Labor Department reported.
BUSINESS
By CHARLES JAFFE | March 20, 2005
IN 1937, NEAR the end of the Great Depression, George Putnam was the "face of responsible investing." He was also the "face of fiduciary responsibility," the "face of long-term performance" (the Depression gave a whole new meaning to long-term performance), the "face of balanced investing," the "face of investment expertise" and the "face of service excellence." Face it: George was one busy guy. He's busy again today, or at least a portrait of him is, as the star of an expanded ad campaign that Putnam Investments - the firm Putnam founded in 1937 - was introduced to mainstream audiences last week.
BUSINESS
By BLOOMBERG NEWS | March 25, 2004
WASHINGTON - Putnam Investments, the first fund company formally accused of wrongdoing in the state and federal probes of alleged improper trading, should pay a penalty of "hundreds of millions of dollars," the Securities and Exchange Commission says. Putnam, the sixth-biggest U.S. mutual fund manager, and the SEC are arguing in an administrative proceeding over how big a fine the Boston company should pay for failing to stop six of its fund managers from allegedly making so-called market timing trades that lowered returns for shareholders.
BUSINESS
By THE BOSTON GLOBE | January 28, 2004
Looking to repair its damaged reputation, Putnam Investments said yesterday that it would cut the fees it charges investors and disclose more information about how portfolio managers are paid. The initiatives follow tighter internal controls and restrictions on employee trading that Putnam agreed to as part of a settlement with federal regulators of civil securities fraud charges. They "are all done toward regaining trust and confidence in the Putnam name, and we'll be doing more things until we get it right," said Charles "Ed" Haldeman Jr., who became chief executive Nov. 3 in a shake-up sparked by a trading scandal.
BUSINESS
By CHARLES JAFFE | November 9, 2003
INVESTORS don't marry their mutual funds. Relationships can, and sometimes should, be broken over the telephone. But just as a jilted lover may try to win back a partner, fund companies try to hang on to investors. The question is whether investors should be swayed by those desperate moves. That question is particularly important at Putnam Investments, the nation's fifth-largest fund company and the first firm to face direct charges in a trading scandal. Massachusetts Secretary of the Commonwealth William Galvin filed a civil case last month alleging that Putnam allowed participants in a few retirement plans to make frequent trades that should have been prohibited.
NEWS
By Bill Atkinson and Paul Adams and Bill Atkinson and Paul Adams,SUN STAFF | November 2, 2003
About 95 million Americans rely on mutual funds to invest and protect trillions in savings that they hope to use to educate their children, buy new homes and help fund their retirements. But a growing scandal in which a number of firms have been accused of cheating small investors to help their largest customers is causing many to lose faith in the industry. "I think it is probably the most significant undermining of the public interest since any of these corporate scandals first erupted," Arthur Levitt, former chairman of the Securities and Exchange Commission, said in an interview with The Sun on Friday, as investors pulled their money out of Boston-based Putnam Investments, which faces federal and state fraud charges.
BUSINESS
By CHARLES JAFFE | November 9, 2003
INVESTORS don't marry their mutual funds. Relationships can, and sometimes should, be broken over the telephone. But just as a jilted lover may try to win back a partner, fund companies try to hang on to investors. The question is whether investors should be swayed by those desperate moves. That question is particularly important at Putnam Investments, the nation's fifth-largest fund company and the first firm to face direct charges in a trading scandal. Massachusetts Secretary of the Commonwealth William Galvin filed a civil case last month alleging that Putnam allowed participants in a few retirement plans to make frequent trades that should have been prohibited.
BUSINESS
By CHARLES JAFFE | October 3, 2006
The mutual fund industry is buzzing with news that two of its bigger players - Putnam Investments and MFS Investment Management - are up for sale. Both firms are old-line, big-name management companies that sell their wares through financial advisers. Both have suffered in recent years from a company-choking mix of mediocre-at-best performance and bad headlines, having been on the wrong side of the fund industry scandals of 2003. Looking forward to when their respective parents find suitable deals, both companies can be an example for fund shareholders of how to react when your manager goes through a merger, whether it is the firm buying new assets or the one giving up the chase.
BUSINESS
By Julius Westheimer | December 23, 1998
Should you buy stocks or mutual funds?"Investors should buy individual stocks only if they have more information, experience and wisdom than professionals," says Sir John Templeton, founder of the Templeton family of mutual funds. "Otherwise, they'd do better to buy mutual funds to receive professional management and diversification."But in this volatile market, do both stocks and mutual funds worry you? Here's another idea: "Tax-free bonds offer good returns," says Business Week, Dec. 28. "There's plenty of room for appreciation plus good income and at present many long-term municipals yield as much as Treasuries."
NEWS
September 8, 1994
Putnam names Metz to Golden Scale CouncilPutnam Mutual Funds President William Shiebler has announced that Richard A. Metz, an investment professional with Carroll County Bank and Trust Co., has qualified for membership in Putnam's 21st Annual Golden Scale Council.The council recognizes outstanding achievement by investment professionals.Established in 1937, Putnam Investments is among the oldest and largest money management firms in the United States. It manages more than $90 billion for more than 3.8 million shareholder accounts and more than 300 institutional portfolios.
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