Replacing a team portfolio structure with a single top manager and doing away with quantitative strategies has created a new era of accountability at Putnam Investments that appears to be having a striking effect on performance.

Putnam funds are beating 53% of their category peers for the trailing 12 months ended June 24, compared with a 21% track record the previous year. The firm’s flagship Putnam Voyager fund is up 27% year-to-date through June 24, beating the S&P 500 benchmark index by an impressive 24 percentage points and its peers by 17 percentage points.

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