The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Reynolds: Email Routing List Email & Route  Print Print
Tuesday, January 10, 2012

Reynolds: "It's Just Upside Down"

News summary by MFWire's editors

The strategy is good, it is just the timing that is off. That is the takeaway from Putnam Investments [profile] chief Bob Reynolds' comments to The Boston Globe columnist Steven Syre. Reynolds gave the interview after reports that the Boston mutual fund firm is making its fourth layoff since he joined in 2008 (MFWire coverage).

In the interview Reynolds said that 2011 "was a difficult year." He added that Putnam's three-year record is "fine".

"Our focus has always been on being able to execute over a longer period of time because that's what benefits shareholders."

The tough part of 2011 was outflows that reached $4 billion through November.

After starting the year putting money into Putnam funds, shareholders reversed course as performance dragged. The majority of Putnam funds, including flagship Putnam Voyager, lagged their peers.

Still, Reynolds has the backs of his PMs.

"We're right on target for earnings projections for companies, yet the stocks haven't reacted the way you would think," he told Syre. "It's just upside down." 

Edited by: HFD

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2020: Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use