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.

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