The United Methodist Church General Board of Pension and Health Benefits, Evanston, Ill., is considering whether to retain Putnam in light of the firm's settlement with the SEC over alleged market timing and other misconduct, said Dave Zellner, CIO. Putnam manages more than $100 million in international equities for the $11.5 billion board, he said. He said no deadline has been set for a decision.
Separately, Anchorage (Alaska) Police and Fire Retirement System on Thursday will review Putnam Investments, which runs $24 million in a commingled international equity fund for the $350 million plan, said Charles Laird, director. Trustees are concerned about "ethical issues" surrounding the civil fraud charges against the firm, Mr. Laird said, as well as the company's financial health after its termination by many large clients. Callan Associates will assist.