PUTNAM INVESTMENTS LLC

Putnam Investments is a private investment management company that was founded in 1937 by George Putnam. The company established one of the first balanced mutual funds, the George Putnam Fund of Boston, now called the George Putnam Balanced Fund, which would grow to hit its $100 million milestone by 1954. Putnam’s son, George Putnam Jr., would take over the company in 1961. The company would grow steadily and begin global expansions in the 1980s, establishing its first international offices in London and Tokyo. International expansion would remain one of its focuses, forming an alliance in 1998 with Nissay Asset Management in 1998 in order to provide its products and services to the Japanese Market which would become a long term investment as the alliance becomes extended through 2020. In 2007, Putnam Investments would be acquired by Power Financial, although retaining its autonomous investing and business activities. Putnam Investments can boast over 75 years of investment experience with a total of $161 billion in assets under management. The company now has over 80 mutual funds and 50 institutional strategies that are diversified and spread across a variegated series of asset classes and investment styles. Putnam Investments currently has 205 investment professionals located internationally in offices in Boston, London, Frankfurt, Tokyo, Sydney, Singapore, and Beijing with a total of over 1700 employees. The company operates through distributing services through intermediary subsidiaries such as Putnam Investment Management, offering its services including equity, fixed income, absolute return, and alternative strategies to its focused markets in North America, Europe, and Asia. Some of the notable mutual funds offered in the Putnam family of funds include Capital Spectrum Fund, Diversified Income Trust, Equity Spectrum Fund, Equity Income fund, and Dynamic Asset Allocation Balanced Fund. The current CEO, Robert Reynolds, was previously the vice chairman and COO of Fidelity Investments and currently acts as the CEO of Great-West Financial in addition to his role at Putnam.