Putnam Investments of Boston has struck an alliance with a Toronto-based money manager to enable it to pick up the pace of its expansion in the Canadian market.

Putnam has agreed to establish co-branded investment funds for institutional clients of Sceptre Investment Counsel, and will acquire a five percent non-voting stake in the company, which is listed on the Toronto Stock Exchange. In addition, Putnam will become the sub-adviser, as of Oct. 1, for Sceptre's existing U.S. and international pooled funds, which have $1 billion in assets under management.

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