Putnam Investments Ranked #1 in Lipper/Barron’s Best Mutual-Fund Families Survey
February 01 2010 - 9:19AM
Business Wire
The 2010 annual Lipper/Barron's Fund Families Survey, which
ranks mutual fund companies based on their performance across a
variety of asset types, both foreign and domestic, has ranked
Putnam Investments #1 out of 61 fund families based on its funds’
performance during 2009. Putnam’s strong move in the rankings is
initial validation of the firm’s investment platform improvements
designed to bolster long-term performance. The rankings are
included in the February 1, 2010 issue of Barron’s.
Putnam’s leap to top ranking reflects significant progress in
the performance of Putnam Investments mutual funds in the wake of
changes announced by Putnam President and Chief Executive Officer
Robert L. Reynolds in November 2008. The performance improvements
included both dramatic gains by individual funds and advancements
across the entire fund complex. For example, the Putnam Voyager
Fund (PVOYX) had one-year returns of 63.98 percent in 2009, ranking
it in the top 2% in its Lipper category. More broadly, 100 percent
of Putnam’s U.S. large-cap equity funds outperformed their Lipper
categories averages in 2009.
“We are honored that the Lipper/Barron's Fund Families Survey
has ranked Putnam Investments first among the nation’s mutual fund
companies. The ranking is recognition of the efforts and commitment
of the portfolio managers, research analysts and other team members
who have worked so hard to improve the performance of our funds and
help investors pursue their goals,” said Reynolds. “But, we
recognize that what is ultimately most important to earning the
trust of investors is a record of solid long-term performance, and
that is what we are working on building at Putnam Investments. For
us, the work has just begun.”
“We congratulate Putnam Investments on their top ranking in this
year’s Lipper/Barron's Fund Families Survey, which provides a way
to evaluate a fund company’s overall performance versus that of its
competitors,” said Edwin A. Finn Jr., Editor and President of
Barron’s. “Of course, as with all such rankings, investors should
consider them to be a starting point in their investment
decisions.”
Since joining Putnam on July 1, 2008, Reynolds has moved
aggressively to improve fund performance and strengthen Putnam’s
investment unit. He restructured Putnam’s equity investment
division to increase individual fund manager accountability and
responsibility, and he realigned manager and analyst incentives to
reward those who deliver top-quartile results for investors.
Putnam has also recruited a number of distinguished industry
veterans in trading, portfolio management and research during the
past 18 months, including Chief Investment Officer Walter Donovan
and Portfolio Managers Robert Ewing, David Glancy, and Nick
Thakore. The company has also built a first-class, high-talent
research team to drive its fundamental investment approach.
Besides turning around the performance of existing funds, Putnam
renewed its claim to leadership in mutual fund innovation during
2009, launching 14 new funds during the year. The products
introduced or enhanced in 2009 include:
- Putnam Absolute Return Funds,* which are
designed to pursue positive, targeted returns above inflation over
three years or more, and with less volatility than more traditional
funds. The absolute return strategies were also combined among the
underlying investments in the Putnam RetirementReady® Funds, Putnam's unique suite of 10
target-date lifecycle retirement funds, the only suite of lifecycle
funds in the industry to integrate these strategies.
- The Putnam Spectrum Funds, which
invest in the securities of leveraged companies, looking to
generate returns through investments across their entire capital
structure;
- The actively managed Putnam
Global Sector Funds, which target stocks in dynamic sectors across
global markets, cover nine sectors across the entire MSCI World
Index, and can be combined to create a highly customized
portfolio.
“We are working hard to pursue sustained, superior investment
performance for our shareholders by putting in place the right
people, products, and pricing,” said Reynolds. “This performance
improvement, as validated by the Lipper/Barron's Fund Families
Survey ranking, showcases what great talent and the right resources
can achieve for shareholders. Importantly, we have attained this
performance through fundamental, value-added research and
diversification, not by ramping up risk. We aim to sustain it.”
About Putnam Investments
Founded in 1937, Putnam Investments is a leading global money
management firm with over 70 years of investment experience. As of
December 31, 2009, Putnam had $115 billion in assets under
management. Putnam has offices in Boston, London, Frankfurt,
Amsterdam, Tokyo, Singapore, and Sydney. For more information, go
to putnam.com.
Putnam mutual funds are distributed by Putnam Retail
Management.
* Putnam's target Absolute Return Funds are not intended to
outperform stocks and bonds during strong market rallies.
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