Great West Lifeco
some very positive sales numbers for its U.S. mutual fund firm, Putnam Investments[see profile]
. According to its Canadian parent, Putnam's net flows for the six months ended June 30 were US$3.4
billion positive, a US$4.7 billion improvement over the same period a year ago.
Gross sales in Putnam were $8.1 billion for the second quarter compared to $5.2 billion a year ago primarily reflecting strong institutional sales, according to the firm.
Total assets under administration at June 30, 2011 were $301.5 billion compared to $294.1 billion at December 31, 2010. Included in assets under administration at June 30, 2011 were $177.8 billion of assets under management, consisting of $124.0 billion of mutual fund and institutional account assets managed by Putnam and $53.8 billion of general account, separate account and proprietary mutual funds managed by Financial Services.
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