Putnam Leads Scandal Plagued Firms in January Asset Loss

February 27, 2004 (PLANSPONSOR.com) - The continuing mutual fund trading scandal continued to exact a cruel vengeance from the fund companies caught up in it so far, with Putnam Investments being the big asset loser last month.

The Boston-based Putnam suffered a $3.14 billion outflow in January, which followed on the heels of an even more severe $4.72 billion asset setback in December, according to data from the Financial Research Corp. Putnam now manages $129 billion in assets.

Close on its heels in terms of bleeding assets was another beleaguered fund family – Janus – which gave up just over $2 billion in assets in January after getting slapped with a $2.81 billion outflow the month before. The firm now has $84.4 billion in assets.

AIM got hit with a $785 million outflow in January, following December’s $1.34 billion asset exodus. The firm now has $79.5 billion in assets.

MFS Investment Management escaped comparatively unscathed in January, only losing $99 million in assets. The company had lost $312 million in December. The firm now has $79.9 billion in assets.