Putnam to pay $83.5m more in mutual funds settlement

Putnam Investments, the asset management unit of Marsh & McLennan, will pay an additional $83.5m (€63m) to shareholders and US regulators to settle charges of improper trading of mutual funds.

The additional amount is the result of new calculations by a Harvard business professor, Peter Tufano, hired to work out the amount lost by investors through trading abuses.

WSJ Logo
U.S.’s Biggest Asian Allies Ready Last-Ditch Trade Appeal to TrumpExternal link

U.S.’s Biggest Asian Allies Ready Last-Ditch Trade Appeal to Trump