Withdrawals dog Putnam in '05
Parent Marsh sees rebound this year at battered firm
Clients of Putnam Investments continued to withdraw money from its mutual funds in 2005 in the aftermath of a market-timing scandal, its parent, Marsh & McLennan Cos. of New York, said in an earnings report yesterday. Assets under management stood at $189 billion at the end of the fourth quarter, compared with $192 billion three months earlier, and revenue also ... (Full article: 504 words)
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