Putnam Investments is considering merging or shutting down some of its funds, the company said today. The firm is the fourth largest in the industry with approximately $300 billion in assets under management.
"Putnam is in the final stages of a comprehensive product line-up review," Putnam said in a statement. "The company is considering making changes, possibly closing or merging funds. However, it is up to the Putnam fund trustees to make a final recommendation."