Santa Fe Energy Resources, Houston, hired Putnam Investments to provide quasi-bundled services for its $39 million 401(k) plan, said Margie Harris, director of compensation and benefits. Six diversified Putnam mutual funds and one fund from INVESCO will be offered.
Putnam will administer the company stock fund, and provide daily valued record keeping, trust and administrative services and participant investment education and communications.
The plan previously was unbundled, using monthly valued record keeping from Hewitt Associates and five investment options from multiple managers.
