Putnam Investments By JOEY on Sep 25, 2008 - Updated Sep 18, 2011

I do not usually enjoy writing reviews like this one. I had considered making an investment with this company but when I checked into how many companies and states had kicked them out of their pension funds I was pretty amazed. I had the information to invest in their funds but after reading about what was going on regarding violations that the securities and exchange commission had to address with them I decided against it. A close friend of mine had about 3/4 of his retirement funds invested with Putnam at a local bank called New Alliance. When he found out about all of this he became very concerned and wanted to sell and change his money into a different fund family. His adviser at the bank was not too thrilled about that and wanted him to stick with Putnam. When we did various studies however we found out that the Putnam funds were behind in performance from that of the fund families that we prefer over them such as Vanguard and T.R.Price. In the months that followed he ended up transferring his money out of the bank after selling off those Putnam funds. He ended up at T.Rowe Price and Vanguard like myself and is very satisfied even with the recent problems with the markets. My hope is that down the road Putnam will be able to put things back together. At one time I knew them to be very good. I hope one day to be able to write a favorable review on them.