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Name | Symbol | Market | Type |
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Putnam Global Utilities Fund Class A (MM) | NASDAQ:PUGIX | NASDAQ | Fund |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
From Jul 2019 to Jul 2024
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:
“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.
1 Year Putnam Global Utilities Fund Class A (MM) Chart |
1 Month Putnam Global Utilities Fund Class A (MM) Chart |
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