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Rating:Putnam's Q2 Loss is Unchanged from Last Year Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, August 5, 2010

Putnam's Q2 Loss is Unchanged from Last Year

Reported by Neil Anderson, Managing Editor

Putnam Investments felt the pain of the market dip in the second quarter. Yesterday its Canadian parent, Great-West Lifeco -- part of Power Financial, and also owner of Great-West Retirement Services -- revealed in its earnings supplement that Putnam's net loss for Q2 2010 was $26 million, the same as Q2 2009 and higher than Putnam's Q1 2010 loss of $15 million.

According to Great-West, Putnam CEO Bob Reynolds and his team saw their fee income rise from $159 million in Q2 2009 (and fall from $197 million in Q1 2010) to $188 million in Q2 2010. Putnam's AUM rose year-over-year from $102.785 billion on June 30, 2009 to $109.661 billion on June 30, 2010 while dipping from $118.355 billion on March 31, 2010. 

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