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

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

Rating:Putnam Will Add 40 Wholesalers Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, July 2, 2014

Putnam Will Add 40 Wholesalers

Reported by Tommy Fernandez

Riding the top of a killer fund flows wave, Putnam Investments plans to bolster its wholesaling force by 30%.

A Putnam executive confirmed for MFWire that the firm, which currently has 60 internals and 60 externals, will add 20 more people to each side over the next 12-to-18 months.

The firm had a killer spring so far in terms of asset gathering. Year-to-date as of May 2014, the firm saw $3.7 billion of net inflows, according to Morningstar. The firm pulled in $3.725 billion of net flows for all of 2013, also according to Morningstar. The 2013 flows were the best numbers Putnam had seen since 2000.

A major driver of these flows was Putnam's investing performance. For example, Bob Reynolds' firm ranked second out of 64 in the Barron’s/Lipper Fund Family Ranking based on total return across asset classes in 2013. The firm also ranked second out of 55 fund families for five-year performance as of December 31, 2013.

Putnam has a distinctive approach to filling its wholesaling ranks. Roughly 75 percent of Putnam's external wholesalers come from its internal ranks. Meanwhile, candidates for internal slots have to undergo a rigorous training and development program. Some of these candidates come from elsewhere within Putnam, while others are recruited out of undergraduate and graduate programs.

The growth of Putnam's sales team is expected to take place over a 12 to 18 month period. 

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
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
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. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use