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Rating:Putnam's Positive Numbers Reflect 'Strong Institutional Sales' Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, August 04, 2011

Putnam's Positive Numbers Reflect 'Strong Institutional Sales'

Reported by Hung Tran

Great West Lifeco yesterday revealed 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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