Boston-based Putnam had $21 billion in outflows, which is the largest of any fund group in the U.S. for the past year. According to
It has been attributed to the firm's close involvement in scandal. In the past five years alone, investors have taken out a total of $100 billion. In March, its mutual fund assets dropped to $99.5 billion, down from $240 billion in 1999.
That's on top of the $190 million it paid to settle regulators' charges.
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