Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Putnam Shifts Towards Mutual Funds as Outflows Slow Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, November 13, 2009

Putnam Shifts Towards Mutual Funds as Outflows Slow

Reported by Neil Anderson, Managing Editor

As the markets have continued to rebound, Putnam Investments' asset mix has changed even as AUM and net flows have increased. According to the most recent quarterly report from Power Financial (a Power subsidiary, Great-West, owns Putnam), Putnam's average asset mix shifted from 52 percent mutual funds in the second quarter of 2009 to 53 percent in the third quarter of 2009.

Putnam's total AUM was still down 16.83 percent year-over-year, from $136.6 billion on September 30, 2008 to $113.6 billion on September 30, 2009. That figure includes $58 billion in mutual fund assets. Yet Putnam's assets increased 10.52 percent in the third quarter, from $102.8 billion on June 30, 2009.

Even as the markets buoyed Putnam's assets in the third quarter, the asset manager's redemptions and net outflows plunged. Putnam suffered $3.33 billion in net outflows (thanks to $10.67 billion in redemptions) in Q3 2008 and $8.76 billion in net outflows (thanks to $13.02 billion in redemptions) in Q2 2009 -- in Q3 2009, only $1.80 billion net flowed out of Putnam, a figure more than compensated for by $12.62 billion in positive market performance. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use