Category: Press Release

BOSTON, January 24, 2017 — For the sixth consecutive year, Putnam Investments has received the DALBAR Total Client Experience award, reflecting the firm’s dedication to delivering industry leading customer service to its retail mutual fund clients. DALBAR is the financial community’s leading independent expert for evaluating, auditing and rating business practices, customer performance, product quality and service. Putnam is being recognized with this award, which reflects multi-dimensional analysis of customer service in three key areas: quality, accuracy and client security.

“Putnam is very proud to remain the sole recipient of this special honor by DALBAR,” said Michael Woodall, Chief of Operations at Putnam Investments. Our firm is always looking for ways to enhance the client experience. We take our mission seriously — working tirelessly to provide top tier results for our customer base.”

The award is based on DALBAR’s measurement of the complete experience of the customer, evaluating the level of professionalism that is demonstrated by the financial services firm’s personnel and the follow through — the accurate execution of transactions and requests while ensuring thorough security protocols. For the 27th consecutive year, Putnam has received a DALBAR service quality award reaffirming its longstanding commitment to industry-leading consistency and reliability.

In addition to its recognition from DALBAR, Putnam Investments has been acknowledged for outstanding service by a leading independent third-party quality service evaluator, National Quality Review (NQR), earning NQR’s 5-Star performance rating in processing operations in Q3 and Q4 2016. NQR randomly samples transactions processed by Putnam’s customer operations division, providing statistically reliable service quality analysis. NQR evaluated Putnam’s processing of transactions such as investments, redemptions, new accounts, exchanges, account maintenance and transfers. To achieve NQR’s 5-Star designation, each quarter Putnam’s team of processing associates performed in the top quartile of all companies analyzed by NQR, consistently delivering outstanding quality in the preceding four-quarter rolling period.

“Putting our clients first and creating a superior service environment are at the core of our firm’s values, which begins with our highly-committed, well-trained team of associates.  We place a strong emphasis on coaching and professional development — aided by technology innovation and the use of data — to ensure we continue to deliver quality customer service and process accurate, secure information,” Woodall added.

About DALBAR

DALBAR, Inc. is the financial community’s leading independent expert for evaluating, auditing and rating business practices, customer performance, product quality and service. Launched in 1976, DALBAR has earned a reputation for consistent and unbiased evaluations of investment companies, registered investment advisers, insurance companies, broker/dealers, retirement plan providers and financial professionals. DALBAR awards are recognized as marks of excellence in the financial community.

About NQR

NQR is a leading consultant in the financial services industry, providing top mutual funds clients with insight into the customer experience, transfer agent service quality and intermediary relationships. NQR has been pioneering service quality and client experience solutions for 25 years, helping top-tier service organizations tackle critical challenges in customer service. NQR’s INSIGHT services feature advanced data analytics and consulting, competitive benchmarking, online reporting portal technologies and access to a community of best practices. The result is increased business partner transparency and efficiency. Through NQR’s offerings, fund families can be sure they are mitigating risk by adhering to compliance, operational practices and regulatory requirements.

About Putnam Investments

Founded in 1937, Putnam Investments is a global money management firm with over 75 years of investment experience. At the end of December 2016, Putnam had $152 billion in assets under management. Putnam has offices in Boston, London, Frankfurt, Tokyo, Singapore and Sydney. For more information, visit putnam.com.

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BOSTON, December 14, 2016 — Putnam Investments announced today that for the 27th consecutive year, it has been honored by DALBAR for mutual fund service quality, reflecting industry-leading consistency and reliability. This continuous acknowledgement of Putnam’s work in this area includes being named DALBAR Mutual Fund Service Award winner for 25 years and the sole winner of DALBAR’s Total Client Experience Award for the past five years.

“Delivering industry-leading service has long been a hallmark of Putnam’s brand and culture,” said Putnam President and Chief Executive Officer, Robert L. Reynolds. “It is for this reason that our entire organization is always so proud to receive this important DALBAR honor.”

For nearly three decades, DALBAR has conducted rigorous, systematic and yearlong testing of customer service based on industry benchmarks, and pointed to service that eclipses industry standards in the most important areas. The DALBAR Service Awards are given annually by DALBAR, Inc., a leading financial services market research and consulting firm to elite service providers.

In discussing the DALBAR achievement, Putnam’s Chief of Operations Michael J. Woodall added, “Service has long been at the core of our value-add offering to clients and is an area that we continue to enhance through technological advancements, thoughtful innovation and unyielding focus across our company. Putnam is very honored to be recognized by DALBAR for an achievement that speaks to our strong commitment to providing the highest levels of service.”

About DALBAR
DALBAR, Inc. is the financial community’s leading independent expert for evaluating, auditing and rating business practices, customer performance, product quality and service. Launched in 1976, DALBAR has earned a reputation for consistent and unbiased evaluations of investment companies, registered investment advisers, insurance companies, broker/dealers, retirement plan providers and financial professionals. DALBAR awards are recognized as marks of excellence in the financial community.

BOSTON, December 1, 2016 — Putnam Investments today announced the appointments of Samuel Cox and Kathryn B. Lakin as Co-Directors of Equity Research, roles in which they will directly oversee the work of nearly 35 analysts who cover every major industry, providing critical fundamental research and analysis for the firm’s broader equity platform. Cox and Lakin will report to Aaron M. Cooper, Chief Investment Officer – Equities, who previously served as Director of Global Equity Research.

“As a firm that is highly committed to delivering active management to the marketplace, equity research remains a key engine in finding new and different sources of investment opportunity,” said Cooper. “We are pleased to have Kate and Sam, talented leaders with solid equity research experience, piloting this important function for our organization.

Cooper indicated that one of the distinguishing features of Putnam’s research structure is that a number of research analysts at the firm also serve as portfolio managers, bringing deep sector expertise to bear in an array of mutual fund and institutional strategies for clients.

Cox has been an analyst in Global Equity Research at Putnam, focusing on the U.S. health care sector. In addition, he serves as a portfolio manager of Putnam Global Health Care Fund and Putnam Global Sector Fund — and will join Putnam Research Fund team. He will retain his analyst and portfolio management responsibilities in his new position.

Prior to joining Putnam in 2012, Cox was an Equity Analyst at Pyramis Global Advisors. Earlier, he held positions with the Rock Creek Group and Cambridge Associates. Cox holds a B.A. degree in Politics, Philosophy, Economics and Urban Studies from the University of Pennsylvania and an MBA from the Massachusetts Institute of Technology’s Sloan School of Management

Previously, Lakin was Assistant Director of Global Equity Research at Putnam. She has served as a portfolio manager of Putnam Research Fund since December 2014, a responsibility that will continue. In addition, Lakin will join the portfolio management team of Putnam Global Sector Fund. In recent years, Lakin has also managed a group of analysts and investment associates, as well as the Equity Associate and MBA internship programs. Prior, she was an analyst in the U.S. Large Cap Equity Research group, covering consumer staples

Lakin joined Putnam in 2012 from Fidelity Investments, where she held positions in Equity Research. She received a B.A. degree in psychology from Wellesley College and is an MBA candidate in asset management at the Yale School of Management

About Putnam Global Institutional Management
Through offices in North America, Europe, Australia and Asia, Putnam currently has relationships with more than 100 institutional clients worldwide. Putnam offers more than 50 institutional strategies for clients including multi-asset absolute return and alternative fixed income and equity products. Putnam’s clients include sovereign wealth funds, endowments and foundations, government pension funds, the defined benefit retirement plans of large corporations and other institutions

BOSTON, November 2, 2016 — Speaking today at the Greater Boston Chamber of Commerce, Putnam Investments President and CEO Robert L. Reynolds urged the business community to press the next U.S. President and incoming Congress to launch a range of initiatives to lift the country to greater growth and prosperity.

In his speech, “The Next American Imperative: Rebooting Stronger Economic Growth,” Reynolds strongly stated, “Business men, women and associations should step up and insist that the new Administration and Congress act on as broad a growth agenda as possible — because the risks posed by slow growth are too serious not to act.

“I believe that getting America growing strongly again is the most critical issue the next president and Congress need to come to grips with,” he emphasized. “Growth is the prime variable — the one ring that rules them all.”

In discussing the challenge, Reynolds pointed to the key headwinds that have been dragging growth down for many years — and suggested multiple policy options to push against them. In particular, he cited falling productivity, loss of manufacturing jobs, income stagnation, wealth disparity, slow job creation and the drop-off in new business formation.

A 30-year financial services leader, Reynolds has been a vocal advocate for public policies to spur savings, investments, job creation, and economic growth. For many years, he has taken a lead role in calling for action to build and strengthen the country’s retirement savings system.

Reynolds appealed to the broader business community to help focus Washington on practical strategies to help make America grow again. In particular, he proposed:

• Investing in the country’s infrastructure — in earnest
• Addressing the “skills gap” between employers who need trained staff and unemployed workers who need training, utilizing significant tax credits
• Increasing science and medical research
• Raising the earned income tax credit
• Dropping capital gains tax on venture and angel capital, as well as on IPOs, to stimulate entrepreneurship
• Importantly, revising the overall U.S. tax code to support expanded employment, savings and investment in America, family formation and child-rearing, education and skill training for students and workers, and the business creation that creates most new jobs and spurs innovation

Even just a one percent increase in GDP growth would have a huge, positive impact on federal revenues, and hence, federal deficits, Reynolds noted. “Economic growth is the single most powerful variable in shaping our future. Let’s reach for it — now.”

Reynolds concluded on a note of hope and optimism: “I do believe that when Americans come together — we’re stronger and I also believe that together, we can — and we will — make America greater than ever.”

BOSTON, October 31, 2016 — Putnam Investments has been ranked the #1 digital engagement leader for financial advisors, brokers and other intermediaries by DST kasina, LLC, a provider of data-driven insights and distribution solutions to financial companies around the world. Putnam was recognized for industry-leading engagement across a host of influential digital channels, involving high-profile use of its “socially active” CEO Robert L. Reynolds, effective web integration of the firm’s award-winning fund comparison tool FundVisualizer, and Putnam’s unique performance data visualization.

Putnam’s selection is part of DST kasina’s first ever industry study of “Digital Engagement Leaders 2016,” a report series looking at a broad range of digital interactions that asset managers have with advisors — and evaluates how effectively they provide: personalized, relevant information; an invitation to interact; what’s unique about the firm and its products; ease of doing business; and consistent, high-quality user experiences across devices.

“The digital revolution that began two decades ago is continuing to transform how financial services firms interact with their clients, partners and other stakeholders,” said DST kasina President Steven Miyao. “Putnam has been a leader in engaging the advisor community through full use of its digital ecosystem and thinking more broadly about the significance of omni-channel communications to best serve the marketplace.”

The DST kasina ranking is the latest recognition of Putnam’s commitment to supporting its advisor partners. Earlier this year, the Mutual Fund Industry Awards presented Putnam with its first-ever Social Media Leader of the Year Award. In 2015, Putnam was ranked first in DST kasina’s evaluation of the industry’s leading advisor websites.

In discussing the DST kasina study, Mark McKenna, Putnam Head of Global Marketing said, “Utilizing the full breadth of digital capabilities — threading all components together in a complementary manner — is becoming a marketplace imperative in our industry. Putnam recognizes that websites, blogs, emails and social media — working in harmony — can create a powerful formula for highly effective two-way communications with advisors to help address their array of needs.”

About the Study
The DST kasina study is based on proprietary methodology to evaluate asset managers’ efforts to engage advisors on and across the most influential digital channels–the advisor website, email, LinkedIn, Twitter and blog–as well as both desktop and mobile devices. The study evaluated 31 small-, mid- and large-cap firms ranging from $92M to $2.6T during July-August 2016 and examined which firms provided industry–leading digital engagement, including: personalized content and product recommendations; use of social platforms to build relationships with advisors; best practices for email engagement; leveraging digital channels and devices to differentiate their brand; and providing an overall “easy to do business” experience for advisors.

About DST kasina
DST kasina, LLC, helps leading companies in the financial services industry manage data, gain insight, and ignite change in their business. Through effective use of advanced analytics, research, and distribution intelligence technologies, DST kasina enables business to better understand, predict, and optimize key business factors impacting their asset growth and profitability. For more information on how to leverage DST kasina’s strategic advisory services, visit www.kasina.com.

BOSTON, October 17, 2016 — Putnam Investments, congratulates professional golfer and Putnam Performance in Motion marketing partner Brendan Steele on a dramatic, final round win at the Safeway Open, the first event of the 2016-17 PGA TOUR. Steele shot a seven-under-par 65 final round in rainy weather, including birdies on his final three holes.

“It was thrilling to watch Brendan Steele win the Safeway Open golf tournament, particularly with his relentless spirit, which allowed him to come back for a final-round victory,” said Putnam Investments President and Chief Executive Officer Robert L. Reynolds. “Brendan’s victory showcased his talent, skill and determination — key attributes that drove his success under intense competition. Putnam is proud to be associated with such an outstanding professional, who embodies many of the very best aspects of his sport.”

Steele, 33, secured his second PGA TOUR win, following a victory in his rookie season at the 2011 Valero Texas Open. By winning the first PGA TOUR Tournament of the year, Steele automatically qualifies for the 2017 Masters, the 2017 PGA Championship, as well as all PGA TOUR events through the 2018-2019 season. He also secured 500 FedEx Cup Points and is the early leader for the PGA TOUR’s season-long championship.

Mark McKenna, Head of Global Marketing at Putnam Investments, explained that Steele and fellow PGA TOUR golfers Keegan Bradley and Jon Curran — who also had strong showings at the Safeway Open — have been important brand ambassadors for the firm through its Performance in Motion program. Putnam has been affiliated with Bradley since 2011 and added Steele and Curran to its roster in 2014.

The three PGA TOUR professionals participate in Putnam’s advertising, social media efforts and overall support of global marketing initiatives. In addition, the golfers sport Putnam-branded competitive clothing and participate in year-round events sponsored by the firm.

Putnam Investments: Performance in Motion
The partnerships with PGA TOUR golfers Brendan Steele, Keegan Bradley and Jon Curran are part of Putnam Investments’ Performance in Motion marketing strategy that draws upon sports that appeal to its advisor, institutional and investor audiences. As part of this effort, the firm works closely with teams and athletes who best personify Putnam’s focus on performing at the highest level. Putnam’s other Performance in Motion marketing partners include Olympic gold medal-winning skier Ted Ligety, the U.S. Ski Team and U.S. Snowboarding, the Boston Celtics, the New England Revolution soccer team and the four-time Super Bowl-winning New England Patriots. For more information, visit www.putnam.com/performanceinmotion.

BOSTON, October 13, 2016 — In one of the largest known surveys of financial advisors — over 1,000 professionals nationwide — on the use of social media in their business practices, the Putnam Investments 2016 Social Advisor Study found that 85% of advisors — up from 75% in 2014 — are actively using social media in their day-to-day work, and they continue to become more sophisticated in their use of multiple social networking platforms for business.

In addition, the study found that advisors gaining new clients via social media has grown from 49% in 2013 to 80% in 2016. Further, 85% of advisors agree that social media has shortened the time to close, compared with traditional approaches.

“The use of social media by the financial advisor community has matured to a level where it is ingrained in how business is conducted and how professionals communicate with their clients and prospects,” said William T. Connolly, Co-Head of Global Distribution, Putnam Investments. “In our ongoing dialogue with financial professionals, it is eminently clear that social media’s role as a critical conduit for advisors in reaching the marketplace is going to continue to deepen and evolve for the foreseeable future.

Connolly indicated that Putnam first embarked on what has become an annual research initiative several years ago in order to provide deep insight to advisors nationwide — at wirehouses, independent broker-dealers, banks, insurance companies and RIA firms — on the increasing importance of social media to their business practice and ultimately to better serving existing and prospective clients.

In further discussing the 2016 study, Mark McKenna, Head of Global Marketing, Putnam Investments said, “Our research indicates that not only are a huge swath of advisors using social media in their practices today, they are actively combining their professional and personal presence on multiple platforms to further develop and strengthen their client relationships.”

McKenna pointed to the continued growth of the more personally-focused Facebook platform which is being accessed by advisors in their ongoing work with clients. Facebook’s usage for business among advisors has risen from 36% in 2014 to 54% today, while usage of LinkedIn for business has grown from 64% in 2014 to 73% this year.

Other Critical Findings
The study yielded other notable insights for advisors using social media for business, including:

• 80% of advisors using social media say it helped them gain new clients
• The median AUM (or asset) gain through social media is $1.9M, with the average gain at $4.9M
• 56% of advisors report that social media has improved their efficiency a great deal
• For advisors with AUM of $100M or more, 35% report that social media plays a very significant role in their marketing efforts and 82% have used social

media to gain clients, with a median gain of $4.7M and an average gain of $8.3M

Attributes of a “Social Advisor”
The Putnam Investments research reveals the following profile of the typical financial advisor gaining assets through social media:

• 43 year-old advisor working at an independent broker-dealer
• Has 10 years of experience
• Runs a book of business of $92 million (median)
• Active on social media networks daily

About the Survey
The research, conducted online in conjunction with Brightwork Partners LLC, included 1,018 financial advisors nationally who have been advising retail clients for at least two years. The study was conducted in July 2016. The results of the survey can be found at putnam.com/advisorsAREsocial.

About Brightwork Partners LLC
Brightwork Partners is a specialty research and consulting firm focusing on distribution strategies for retail asset managers and providers of defined contribution services. Founded in 1999, the firm conducts custom and multi-client research among advisors, consultants, plan sponsors, third party administrators and participants on behalf of major providers in the industry.