Clearwater sticks with Putnam, says firm 'has repented'

Clearwater (Fla.) Employees Pension Fund retained Putnam Investments, which runs $18 million in international equities, said Stephen Moskun, cash and investment manager. Officials at the $449 million plan were concerned about performance as well as the civil fraud charges against the firm, but Putnam "has repented," Mr. Moskun said. Callan Associates assisted.