Putnams outflows contradict the recent trend of cash inflows into U.S. stock mutual funds, triggered by this springs stock market gains. Overall, stock mutual funds took in an estimated $14 billion in net new money in April, according to separate data from fund tracker
Many investors are shunning Putnam because some of its most aggressive stock funds have stumbled badly during the three-year stock slump, said Laura Pavlenko Lutton, an analyst at research firm
Putnams flagship Voyager fund was down an average 16.98% in the past three years, falling into the bottom half of its large-company growth peers.