Based on the strong performance Putnam Investments’ funds delivered across a wide variety of asset types in 2008, the annual Lipper/Barron’s Fund Families Survey has selected Putnam as the No. 1 mutual fund family of 61 offerings.
Putnam’s strong move in the rankings is initial validation of the firm’s investment platform improvements designed to bolster long-term performance, Putnam said in a statement. The performance improvements included both dramatic gains by individual funds and advancements across the entire fund complex.
The firm’s flagship Putnam Voyager Fund rose 63.98% in 2009, placing it in the top 2% of its Lipper category. Further, 100% of Putnam’s large-cap equity funds outperformed their Lipper peers.
“We are honored that the Lipper/Barron’s Fund Families Survey has ranked Putnam Investments first among the nation’s mutual fund companies,” said Putnam President and CEO Robert L. Reynolds. “The ranking is recognition of the efforts and commitment of the portfolio managers, research analysts and other team members who have worked so hard to improve the performance of our funds and help investors pursue their goals,” Reynolds said.
“But we recognize that what is ultimately most important to earning the trust of investors is a record of solid long-term performance, and that is what we are working on building at Putnam Investments,” Reynolds continued. “For us, the work has just begun.”