BOSTON -- Putnam Investments and the Board of Trustees of the Putnam Funds announced today that the Trustees have authorized Putnam Master Intermediate Income Trust (NYSE: PIM) to conduct a tender offer, to be commenced in the first quarter of 2008, for 15% of the fund's outstanding shares, with a...
Byline: Brooke Southall SAN FRANCISCO - Charles "Ed'' Haldeman Jr. has told his peers that he shares blame for the publicity fiasco that nearly sank Putnam Investments. The Boston-based chief executive of Putnam failed to grasp how his...
As a mutual-fund shareholder, you wanted to believe there would be no more scandals, that the bad guys had been caught, would be punished, and that the worst was over. You would have been better off believing in the Tooth Fairy. An agreement reached last week between former Putnam Investments...
Get with it. That was the message for a gathering of mutual fund board executives this summer from a commissioner of the Securities and Exchange Commission, who stressed that part of their job included understanding issues important to the equity trading desks they oversee. SEC Commissioner Annette L. Nazareth encouraged...
FOR A DESCRIPTION of each column heading, see page 72. Some other information about the taxable bond fund rankings: CATEGORY. Investment-grade corporate bond funds are classified as ST Corp (short-term), Int Corp (intermediate-term) or LT Corp (long-term). Government bond funds are ST...
BOSTON -- Putnam Investments today announced that the Trustees of The Putnam Funds have approved in principle merging Putnam Managed High Yield Trust (NYSE: PTM), a closed-end fund, into Putnam High Yield Trust, an open-end fund pursuing similar investment objectives and strategies. As of February 28, 2006, Putnam Managed High...
WASHINGTON -- In three unrelated cases, federal regulators fined Citigroup Inc. and Putnam Investments $20 million and $40 million, respectively, and a smaller brokerage firm $100,000 to resolve allegations that they concealed from customers the fact that brokers were paid to recommend certain mutual funds, creating a conflict of interest....
Byline: Frederick P. Gabriel Jr. Putnam Investments LLC just can't get those regulators off its back. The Department of Labor is investigating the Boston mutual fund company for restrictions on trading of its parent company's stock which...
Harvey Pitt, former chairman of the Securites and Exchange Commission, told attendees of the American Bankers Association's Wealth Management and Trust Conference in Orlando, Fla., Thursday that an environment of ''overlegislation, overregulation and overprosecution [is] here to stay for the foreseeable future.'' ...
Steve Oristaglio, 49, Friday announced that he will retire later this year as head of investments at Boston-based Putnam Investments LLC. Kevin Cronin, who has served as the firm's deputy head of investments since July, has been named as his replacement, effective immediately. ...
By Yamil Berard, Fort Worth Star-Telegram, Texas Knight Ridder/Tribune Business News Nov. 7--David Manning put the brakes on an arrangement that he said was draining millions of dollars from employee pensions. Manning had just taken the job of finance director in...
By Guy Boulton, Tampa Tribune, Fla. Knight Ridder/Tribune Business News Oct. 1--Raymond James Financial Services Inc. was sued Thursday by the Securities and Exchange Commission for allegedly failing to supervise a former broker who helped bilk investors out of about $16.5 ...
* Companies Waking up the Neighborhood In a surprise move, Morningstar announced that it is planning to go public in a few months. The research firm filed with the SEC in May for an initial public offering of up to $100 million. Much remains unclear about the IPO,...
AFTER EVERYTHING the mutual fund industry's been through, the biggest players in the business are reluctant to reveal how much they pay their management teams. [ILLUSTRATION OMITTED] Fidelity and Vanguard have both gone on record as seeing no value ...
* Companies Taking a Chance Two broker-dealers are allowing reps to sell 401k plans to small-business clients, but they are taking very different approaches. Commonwealth Financial Network has chosen to partner with a third-party administrator that can create customizable plans for the firm's reps. ING Advisors Network, on...
BOSTON -- Putnam Investments will pay $110 million to settle federal and state allegations of improper trading in the case that launched the scandal over so-called market timing in the mutual fund industry. Under the settlements announced Thursday, half the money -- $5 million in ill-gotten gains...
BOSTON -- Putnam Investments will pay $110 million to settle federal and state allegations of improper trading in the case that launched the scandal over so-called market timing in the mutual fund industry. Under the settlements announced Thursday, half the money -- $5 million in ill-gotten gains and...
By Andrew Countryman, Chicago Tribune Knight Ridder/Tribune Business News Apr. 9--Putnam Investments, one of the mutual fund firms to be implicated early in the scandal roiling the industry, agreed to pay $110 million Thursday to settle allegations it allowed rapid-fire trades...
By Beth Healy, The Boston Globe Knight Ridder/Tribune Business News Apr. 9--Putnam Investments yesterday agreed to pay $110 million to settle charges with state and federal regulators that it permitted certain clients and several of its own mutual fund managers to improperly...
Byline: Mike Foster Ed Haldeman, chief executive of Putnam Investments, one of the US's largest fund managers, is handing bigger bonuses and a greater role in decision-making to his investment teams. He believes devolution of power is crucial to restore morale following the mutual...
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