Putnam Investments and two of its veteran stock pickers are parting ways amid a company shakeup, Reuters reports. The firm also announced several additions to the management teams of their Vista and Voyager funds. Putnam said that after a review of its growth teams and investment processes, a change was in order.
Putnam said that Michael Mufson, who helped manage the OTC & Emerging Growth fund, and Dana Clark, who helped manage the Vista fund will both be leaving early this month. Clark had been with Putnam for 16 years, while Mufson started in 1993.