East Providence (R.I.) Police & Fire Retirement System placed Putnam on watch because of market-timing accusations against the firm, said James McDonald, finance director. Putnam runs $13 million in active domestic large-cap growth equities and $9 million in international equities for the $67 million plan, Mr. McDonald said. Trustees discussed terminating Putnam, but instead decided to monitor the firm quarterly, he said. Laura McNamara, Putnam spokeswoman, did not return a call by press time seeking comment.
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