Putnam Investments News
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Great-West Lifeco Inc., the owner of Putnam Investments, said Chief Executive Officer Allen Loney will retire and that Raymond L. McFeetors will step down as chairman.
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A gauge of U.S. corporate credit risk rose as a business survey from the Federal Reserve showed “moderate” growth in the economy and as analysts forecast a decline in corporate earnings.
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Investors who bought PowerShares S&P 500 Low Volatility Portfolio for protection from stock- market swings when it debuted almost two years ago got an unexpected bonus: They also made more money.
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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.
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Putnam Investments LLC, a U.S.-based investment advisory firm with $120 billion in assets under management, will sponsor the U.S. ski and snowboarding team for four years.
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Putnam Investments LLC, the Boston- based investment manager run by Robert Reynolds, eliminated 78 jobs, or 4.4 percent of its workforce, yesterday after clients pulled money from the company’s funds and assets shrank in 2011.
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Great-West Lifeco Inc.’s C$1.75 billion ($1.72 billion) agreement to buy Irish Life Group Ltd. signals a return to growth for the Canadian insurance industry that has spent years since the financial crisis seeking to contain damage from plunging stock prices.
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Deborah A. Cunningham , the manager of $261 billion at Federated Investors Inc. , was squeezed into the bathroom of her family’s recreational vehicle, trying to help save the $3.6 trillion money market industry.
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Great-West Lifeco Inc., Canada’s second-largest insurer, agreed to buy Irish Life Group Ltd. for C$1.75 billion ($1.73 billion) from Ireland’s government as it seeks to expand European operations. Shares climbed the most in almost seven months.
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Putnam Investments said Darren A. Jaroch will become portfolio manager of the $3.6 billion Putnam Equity Income Fund, replacing Bartlett R. Geer, who will be leaving the firm.
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