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Rating:Putnam Hires Two Ex-Fidelity International Equity Experts Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, July 26, 2011

Putnam Hires Two Ex-Fidelity International Equity Experts

Reported by Neil Anderson, Managing Editor

Bob Reynolds just hired two more fellow Fidelity [see profile] alumni for key roles at Putnam Investments [see profile]. Today the Boston-based mutual fund firm (a subsidiary of Canadian Power Financial's Great-West) confirmed the addition in Boston of Aaron Cooper as global equity research director and Richard (Shep) Perkins as co-head of international equities, both reporting to Putnam chief investment officer Walter Donovan. London-based Simon Davis is Putnam's other co-head of international equities.

"The arrival of Aaron and Shep will only enhance our capabilities in key areas and further position our investments team for long-term success," Donovan stated.

Cooper will also co-PM the $2.4-million Putnam Global Sector Fund (PPGAX) and the two-star, $226.2-million Putnam Research Fund (PNRAX), and Perkins will also co-PM the two-star, $942.2-million Putnam Global Equity Fund (PEQUX).

Putnam spokesman Jon Goldstein confirmed that global equity research was previously divided in two, with Bob Ewing and Nick Thakore leading domestic equity research and Davis leading international equity research. Now all of equity research, both domestic and international, reports to Cooper. Ewing continues to PM the Putnam Growth & Income Fund and Thakore continues to PM the Putnam Voyager Fund.

Cooper previously led the cyclical team at Fidelity as managing director of research, while Perkins most recently PMed the two-star, $8.4-billion Fidelity Mid-Cap Stock Fund (FMCSX).

Fidelity spokeswoman Sophie Launay told MFWire.com that Cooper and Perkins both left the Boston Behemoth in January. John Roth then took over PMing the Fidelity Mid-Cap Stock Fund on January 31. As for Cooper, he was "one of 12 managing directors of research in the equity division."

"His responsibilities were assumed by other managing directors in the group," Launay said.

Company Press Release

BOSTON, July 26, 2011 —Putnam Investments today announced that it is further strengthening its equity investment and research teams with the appointment of two industry leaders to senior positions. Aaron M. Cooper has been named Director of Global Equity Research and Richard (“Shep”) Perkins has been named co-head of International Equities, and will partner with London-based Putnam veteran Simon Davis. All three managers will report directly to Walter C. Donovan, Putnam’s Chief Investment Officer.

Cooper is charged with overseeing Putnam’s global equity research efforts, which have helped the firm generate strong performance results, and lay a solid fundamental research foundation across its entire domestic and international equity platform. Additionally, Cooper will be named portfolio manager on Putnam Research Fund and Putnam Global Sector Fund, joining the analysts who are currently listed as portfolio managers on the funds.

Perkins will combine his extensive investment experience with Simon Davis in furthering bolstering Putnam’s international equities unit. He will also be named portfolio manager of Putnam Global Equity Fund, along with existing portfolio manager, Darren Jaroch. Cooper and Perkins, both of whom will be based in Boston, previously held investment roles at Fidelity Investments.

“Over the last few years under Bob Reynolds’ leadership, Putnam has elevated its overall investment management process, operations and talent to deliver strong performance for institutional investors, financial advisors and their clients,” said Donovan. “The arrival of Aaron and Shep will only enhance our capabilities in key areas and further position our investments team for long-term success.”

The appointments come in the wake of growing recognition of Putnam’s performance turnaround over the last three years. The firm was recently named one of the top 15 mutual fund families by Lipper/Barron’s for the second consecutive year. In 2010, Putnam was the recipient of Institutional Investor’s Mutual Fund Manager of the Year.

Previously, Cooper was Managing Director of Research at Fidelity Investments from 2007 -2011. He led the company’s cyclical team, and had covered cyclicals, media and healthcare as an analyst. He also formerly managed the Fidelity Advisor Health Care Fund, the Fidelity VIP Health Care Portfolio and the Fidelity Select Medical Equipment and Systems Portfolio. Cooper holds an B.A. degree in Economics from Harvard University.

Most recently, Perkins was the portfolio manager of the Fidelity Mid-Cap Stock Fund from 2005-2011. Prior to that, he was responsible for the Fidelity OTC Fund. Earlier, he was a research analyst at Donaldson, Lufkin & Jenrette, covering the chemical, healthcare, telecommunications and technology sectors. He received a B.A. in Economics from Amherst College and is a CFA Charterholder.

About Putnam Investments

Founded in 1937, Putnam Investments is a leading global money management firm with over 70 years of investment experience. The firm was recently named one of the top 15 mutual fund families by Lipper/Barron’s for the second consecutive year. At the end of June 2011, Putnam had $129 billion in assets under management, including mutual fund assets of $68 billion and institutional assets of $61 billion. Putnam has offices in Boston, London, Frankfurt, Amsterdam, Tokyo, Singapore and Sydney. For more information, visit putnam.com.

Putnam mutual funds are distributed by Putnam Retail Management.  

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