MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, January 29, 2008 Two Putnam Funds to be Under New Management Jeffrey Knight and the rest of Putnam's global asset allocation team, will assume interim responsibility for the Putnam Voyager Fund and Putnam Growth Opportunities Fund at the end of January. The previous co-portfolio leaders of the two funds, Robert Ginsberg and Kelly Morgan, are departing Putnam at that time. In December, The MFWire reported that some members of the sales and portfolio management teams may be looking to leave Putnam after their option from the Power Financial deal vested (see "Putnam May Plug Into New Sales Force in '08," December 17, 2007). Company Press Release Putnam’s Global Asset Allocation (GAA) Team, headed by Jeffrey Knight, will assume responsibility on an interim basis for Putnam Voyager Fund and Putnam Growth Opportunities Fund. Mr. Knight, chief investment officer for GAA, and Robert Schoen, portfolio manager GAA, become co-portfolio leaders for these funds, in addition to their current responsibilities. Robert Ginsberg and Kelly Morgan, former co-portfolio leaders for Putnam Voyager Fund and Putnam Growth Opportunities Fund, leave Putnam at the end of January. Mr. Ginsberg was also a portfolio member of Putnam Discovery Growth Fund. His responsibilities on that fund will be assumed by the portfolio team now in place, which includes portfolio leader Richard Weed and portfolio member Raymond Haddad, as well as adding Mr. Knight and Mr. Schoen as portfolio members. “The Global Asset Allocation team, led by Jeff Knight, has demonstrated long-term success in managing assets,” said Kevin Cronin, Putnam’s head of investments. “The team has the capacity and will use all of the tools available within the funds’ objectives to deliver the results that shareholders expect.” Mr. Knight, deputy head of investments, has 18 years of investment experience, 14 years of these with Putnam. Mr. Schoen has 17 years of investment experience, 11 years of which were with Putnam. Printed from: MFWire.com/story.asp?s=17263 Copyright 2008, InvestmentWires, Inc. All Rights Reserved |