The $240 million-plus Cambridge (Mass.) Retirement System hired Putnam...

The $240 million-plus Cambridge (Mass.) Retirement System hired Putnam Investments as a core growth manager, said Rafik Ghazarian, financial analyst at Segal Advisors, which assisted in the hiring. Putnam will receive about $20 million, which will come from shifting money from S&P 500 and Russell 1000 index funds with State Street Bank. State Street, Cambridge's custodian, temporarily held the money after a reshuffling among managers last fall.