Santa Clara Valley Transportation Authority, San Jose, Calif., hired...

Santa Clara Valley Transportation Authority, San Jose, Calif., hired Putnam to manage $18 million to $20 million in active international equities for the $190 million fund, said Scott Buhrer, CFO. Funding comes from reducing an active domestic fixed-income portfolio handled by Dodge & Cox, leaving it with $105 million. Mr. Buhrer said the move was made for diversification.