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

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

Rating:WSJ Reviews Reynolds' First Year on the Job at Putnam Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, June 29, 2009

WSJ Reviews Reynolds' First Year on the Job at Putnam

by: Meredith Mazzilli

A year after Robert Reynolds took the reins at Putnam Investments, the Wall Street Journal look at what it termed a "comeback" at the fund firm over the past year. Since taking the helm as Putnam’s CEO last year, Reynolds has instituted a number of changes: he switched from a multi-manager to a one-manager system, recruited managers from rival fund firms and largely abandoned quantitative strategies in favor of stock-picking based on fundamentals.The aggressive changes appear to have paid out over the past year as Putnam's fund performance gains traction against its peers.

Morningstar numbers show that as of June 24, Putnam was beating 53 percent of its category peers on average one-year returns. Last year, Putnam was only able to outshine 21 percent of rival funds. Putnam's large-cap offerings in particular seem to have carried out a successful turnaround, with large-cap offerings outperforming 78 percent of their peers, as opposed to 20 percent a year ago. Perhaps most notably, the beleaguered Putnam Voyager Fund has jumped to the top 1 percent of large-company funds in one-year performance, while last year its dismal performance landed it near the bottom of the list.

Under Reynolds' guidance, Putnam has seen some notable additions over the past several months. Putnam has recently launched several funds, including the Putnam Capital Spectrum Fund and Equity Spectrum Fund. And Reynolds has been recruiting Fidelity alums over to Putnam, such as Jeff Carney, Walter Donovan and Nick Thakore.
Thakore cautioned against reading too much into Putnam’s most recent successes, but did note that the tides of investor opinion regarding Putnam seem to have turned.

"No one should get too carried away with a few months of performance,” Thakore said. “There's a buzz in the investment community about Putnam now, where just a year ago it was so negative." 

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

3.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2025: Q3Q2Q1
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
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:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. MFDF Director Discussion Series - Open Forum, July 9
  2. ICI webinar - The Digital Future of Asset Management: Current State and Regulatory Landscape, July 10
  3. MFDF webinar - Mid-Year Tax Update for Registered Investment Companies, July 10
  4. MFDF Director Discussion Series - Open Forum (Philadelphia), July 15
  5. 2025 MMI Women in Advisory Solutions Forum, Jul 15-16
  6. Nicsa webinar - How Trusted GenAI is Transforming Data Access in Asset Management, July 16
  7. MFDF webinar - M&A and Consolidation in Asset Management, July 16
  8. MFDF webinar - ETF Conversions, July 17
  9. MFDF Director Discussion Series - Open Forum (New York), July 22
  10. MFDF Ask Anything webinar - AI Edition, July 24
  11. MFDF webinar - Use of Derivatives by RICs, July 29
  12. MFDF Director Discussion Series - Open Forum (Columbus, Ohio), August 20
  13. Samfund Soiree Boston 2025, August 21
  14. MFDF webinar - The Audit Committee Chair's Guide to Balancing Duties and Emerging Issues, September 3
  15. ICI ETF Conference, Sep 8-10
  16. Nicsa webinar - Reimagining Reconciliation: AI, Regulation, and Capital Markets Transformation, September 10
  17. MFDF webinar - Series Trust Funds - Compliance and Board Reporting, September 10
  18. MFDF In Focus - Board Oversight of DEI in Current Landscape, September 11
  19. MFDF webinar - MFDF 15(c) White Paper Webinar Series: Part 4 – Enforcement Action Takeaways, September 16
  20. MFDF webinar - Latest in Closed-End Funds Litigations, September 23
  21. MFDF webinar - Fixed Income Insights: Navigating Market Trends & Opportunities, September 24
  22. MFDF webinar - Risk Management Essentials for RICs and Boards, September 29
  23. MFDF webinar - Diligent - Tools for Fund Board Book, October 1
  24. 10th annual Fuse Forum, October 8
  25. MFDF webinar - Essential Strategies in Board Oversight of Operational Risk Management, October 14
  26. 2025 MMI Annual Conference, Oct 15-17




©All rights reserved to InvestmentWires, Inc. 1997-2025
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use