The naming of Ed Haldeman to replace Larry Lasser as CEO of Putnam Investments, along with other actions taken by the troubled fund company, have prompted Morningstar to lift its advice to investors that money should not be poured into Putnam funds.

But a caveat remains for those considering buying into the funds. Morningstar said that because of bad performances during the bear market and quick turnover among fund managers, investors should not consider Putnam funds no-brainers just because the company is repairing its scandal-tarnished reputation.

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