Putnam has tapped Richard England, currently manager of the Putnam Health Sciences Trust and Putnam Investors Fund, to manage the Growth Opportunities fund. David Santos, who manages both the Putnam Balanced Fund and Putnam Technology Fund, gets to add the Investors Fund to his roster of managed funds, reported Bloomberg.



Merrill Lynch is closing down its L.A. investment management office, formed in 1996 from the acquisition of Hotchkis & Wiley. Forty of 100 employees in the office will be laid off while the remaining 60 employees will be relocated, reports the Wall Street Journal.



Fidelity Capital Market's research unit, Vestigo, has ventured into the stock rating frenzy with research reports/recommendations for 25 companies, reports the Boston Globe. Fidelity is pitching their research on the grounds that it is free of the inherent bias of research published by investment banks. 

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