Unilever Superannuation Fund, London, terminated Putnam Investments from a £275 million ($475 million) international equities portfolio, according to a published report. Putnam was dropped by the £3.1 billion plan because of the investigation into mutual fund market timing. "We took appropriate advice and determined that the most prudent and appropriate course of action was to terminate the Unilever Pension Fund mandate with Putnam," Unilever said in a statement. Officials at Unilever did not return calls seeking comment by press time. Laura McNamara, Putnam spokeswoman, said the firm was "disappointed about their decision, but hope that we will have the opportunity to manage investments for them again in the future."