Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:One of Bob's Boys Gains Props from the Boston Globe Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, December 30, 2009

One of Bob's Boys Gains Props from the Boston Globe

News summary by MFWire's editors

The Boston Globe thinks Nick Thakore's star shone the most brightly in 2009, selecting the manager of Putnam's Voyager fund as the recipient for its ninth annual 'Boston Capital Fund Manager of the Year' award, on Tuesday.

Thakore, as any Putnam watcher knows, is part of a long list of Fidelity alums that have joined Putnam since Bob Reynolds took over as CEO in the summer of 2008. Thakore joined Putnam in November last year from RiverSource Investments. He previously worked at Fidelity for nine years.

Thakore's Voyager fund has posted a 65.6 percent gain this year through the end of last week, skyrocketing past the Russell 1000 Growth Index -- a major investment benchmark for those funds -- which is up 39.3 percent this year.

While Voyager is seeing blissful returns this year, it has had a rough decade plagued by dismal losses and shareholder defections that dropped its assets from $46 billion around 2000 all the way down to today's $3.5 billion.

As The Globe's Steven Syre sees it, Thakore has played an instrumental role in the fund's recovery.

Thakore attributed the fund's success this year to individual stock performances, especially shares of cyclical growth companies that stand to benefit from the improving economy.

"I thought it was the best stock-picking environment I ever saw," stated Thakore. "People were hesitant to buy stocks like Aflac Inc. and CBS Corp. when they were way down and out. I think I took more advantage of that."

Previous award honorees include Will Danoff, Joel Tillinghast, and Bob Litterst from Fidelity; Dan Fuss of Loomis Sayles & Co.; Dan Rice of BlackRock Advisors; and Maura Shaughnessy of MFS Investment Management. Ken Heebner of Capital Growth & Management holds the distinction of winning twice. 

Edited by: Patricia Kelly


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2018
40 Wall Street | 28th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use