Putnam Investments

Office address: 100 Federal St, Boston, MA 02110
Website: putnam.com
Year established: 1937
Company type: financial services
Employees: 1,200+
Expertise: equity investment management, mutual funds, active ETFs, separately managed accounts (SMAs), institutional strategies, large cap value, large cap growth, emerging markets equity, small cap equity, sustainable investing
Parent company: Franklin Templeton
Key people: Shep Perkins (CIO); Kate Lakin (director of research); Alan McCormack, Marc Lindquist, Brendan Murray, Stephanie Dobson (Putnam heads); Di Yao (portfolio manager)
Financing status: corporate-backed or acquired

Putnam Investments is a Boston-based equity asset manager that operates under Franklin Templeton. The firm offers mutual funds, active ETFs, and separately managed accounts to individual and institutional clients. It manages $162 billion in assets with teams across Boston, London, and Singapore as of 2025.

History of Putnam Investments

Putnam Investments started in 1937 when George Putnam launched The George Putnam Fund of Boston. The fund became one of the first balanced mutual funds in the US. This move set the firm on a path to become a trusted name in equity investing.

From growth to new ownership

Putnam saw steady growth for decades, but the early 2000s brought a slow decline in asset value. In 2007, Great-West Lifeco announced that it would buy Putnam from Marsh & McLennan Companies for about $3.9 billion. The deal made sense for Great-West Lifeco because it wanted to grow its US presence after a 2005 expansion plan.

A new chapter for Putnam Investments

Putnam faced a $925 million acquisition offer from Franklin Templeton in 2023, though not without raising questions from some industry watchers. Its subsidiary PanAgora Asset Management was not part of the transaction.

Joining the Franklin Templeton group

Putnam Investments officially joined Franklin Templeton's family of investment managers on January 1, 2024. The acquisition was stated to boost Franklin's retirement and insurance offerings. Great-West Lifeco became a long-term shareholder in Franklin Resources as part of the transaction.

Putnam Investments products and services

Putnam offers stock-driven equity strategies built on fundamental research and active portfolio management:

Investment vehicles

• mutual funds: research-backed funds focused on stock selection
• active ETFs: equity funds traded on stock exchanges
• separately managed accounts: customizable portfolios for individual investors
• institutional strategies: specialized equity options for large-scale investors

Equity strategies

• US Large Cap Value Equity: targets broad opportunities in US value stocks
• US Large Cap Growth Equity: invests in companies with durable growth prospects
• Non-US Small Cap Equity: buys discounted stocks in international markets
• Emerging Markets Equity: focuses on stocks in developing economies
• US Research: stock-driven strategy across US equities

Putnam's investment team includes 52 portfolio managers and analysts with an average of 18 years of experience. The firm also started offering the Putnam Sustainable Retirement Funds in 2023, a target-date series for retirement savers with an ESG focus.

Culture and corporate values

Putnam Investments states it has a team-based research culture built on dialogue and debate. The firm's flat structure encourages collaboration across all levels:

• teamwork: members share a goal of delivering results for investors
• diversity of views: Putnam Investments values different perspectives and original thinking
• open communication: formal and informal dialogue flows across portfolio teams
• active debate: discussion helps generate differentiated investment insights

Putnam also says that ESG issues are financially material to long-term business value. The company integrates ESG considerations in its research across asset classes:

• ESG integration: analysis complements fundamental research in investment decisions
• materiality approach: relevance varies by sector, geography, asset class, and company
• materiality map: internally developed tool inspired by SASB, now part of ISSB
• stewardship: active ownership, monitoring, and engagement with portfolio issuers
• stewardship components: issuer engagement, thematic engagement, proxy voting, and collaborative initiatives

Putnam Investments believes transparency and reliable information benefit its clients and shareholders. Its stewardship strategy aims to provide long-term value through active ownership.

About CIO Shep Perkins and key people

Shep Perkins, CFA, serves as Putnam's chief investment officer and leads investment management, research, and trading. Perkins also previously worked at Fidelity Investments as a portfolio manager and analyst. He holds a BA in economics from Amherst College and joined the investment industry in 1993.

Several key people support Perkins in guiding Putnam Investments' business functions:

• Kate Lakin serves as director of research, overseeing the firm's fundamental equity research teams
• Alan McCormack is head of quantitative equities and risk, managing quantitative strategies and portfolio risk analysis
• Marc Lindquist is head of trading, leading trading operations across all equity portfolios
• Brendan Murray is head of global business development, promoting Putnam strategies and approaches to clients worldwide
• Stephanie Dobson is head of sustainable investing and portfolio manager, leading the Putnam Investments' ESG and sustainable investment strategies
• Di Yao is portfolio manager and analyst, focusing on sector and thematic equity strategies

These professionals help promote collaboration across portfolio management, research, and trading. Their combined experience helps shape Putnam's investment decisions.

The future at Putnam Investments

The firm's equity strategies became available to international clients through Franklin Templeton's global distribution network in 2025. The move lets Putnam Investments expand beyond its strong US presence into Europe, the Middle East, and Asia. This positions Putnam to reach a wider client base and grow its portfolio on a global scale.

Putnam's global push is already paying off. Its US Research Fund, launched in April 2025, exceeded $1 billion in assets in just eight months. The Ireland-based fund became the best-selling new fund among 435 launches that year, driven by demand from Europe and Latin America. Putnam plans to build on this success by introducing more strategies in 2026 and beyond.

The latest Putnam Investments news