Add Putnam Investments of Boston to the list of fund advisers fed up with market timers.
On March 15, for the first time, Putnam imposed a one percent fee on shares redeemed or exchanged within 90 days in two of its mutual funds. The funds are the Putnam Asia Pacific Growth Fund and the Putnam Emerging Markets Fund. The redemption fees only apply to new share purchases made on or after March 15. Existing investments will not be affected, said Putnam in an announcement March 5.