What kind of investment vehicle launches can you expect from Putnam Investments in the near future? None, according to
Larry Lasser, chief executive officer, who served on a panel at the 6th Annual Financial News Media Symposium, held at the University Club in New York City.
"There's going to be excess and there's going to be contraction," warned Lasser, during his opening remarks on a panel that included Stanley O'Neal of Merrill Lynch, Wendy Murdock of Citigroup, Edmond Villani of Zurich Scudder, and John Bachmann of Edward Jones.
"This is not the ideal new product environment," continued Lasser, when asked about a potential step into the managed account business. The $33 million bonus baby and chief executive officer emphasized caution in all parts of the business, citing the fact that half of Putnam's products fail to even hatch in a typical five year incubation period.
 
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