MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, August 5, 2010 Putnam's Q2 Loss is Unchanged from Last Year Putnam Investments felt the pain of the market dip in the second quarter. Yesterday its Canadian parent, Great-West Lifeco -- part of Power Financial, and also owner of Great-West Retirement Services -- revealed in its earnings supplement that Putnam's net loss for Q2 2010 was $26 million, the same as Q2 2009 and higher than Putnam's Q1 2010 loss of $15 million. According to Great-West, Putnam CEO Bob Reynolds and his team saw their fee income rise from $159 million in Q2 2009 (and fall from $197 million in Q1 2010) to $188 million in Q2 2010. Putnam's AUM rose year-over-year from $102.785 billion on June 30, 2009 to $109.661 billion on June 30, 2010 while dipping from $118.355 billion on March 31, 2010. Printed from: MFWire.com/story.asp?s=33052 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |