and SEC officials are in talks to settle the fund firm's miscalculation of performance-based fees, reports Reuters
"Putnam is currently engaged in discussions with the enforcement staff of the SEC's Fort Worth office regarding, among other things, adjustments to the fee structure," officials disclosed in a Putnam filing.
The performance fees were instituted at Putnam in 1997. Officials said that retroactive adjustments to the performance fees would reduce total management fees.
Late last year, Bloomberg and other news sources reported that regulators were scrutinizing performance-based fee calculations in Putnam's Research fund, the Gartmore U.S. Growth Leaders fund and WWW Internet fund.
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