Manulife Financial dropped Putnam Investments and Janus Capital Group funds from its pension retail platform and other product offerings, said Heather Carter, spokeswoman. Manulife also terminated Putnam as subadviser to its Manulife Global Equity Trust, replacing it with Templeton Global Advisors. Ms. Carter said the recent fund industry scandal, while a factor, was only one reason for the changes.
Shelley Peterson, Janus spokeswoman, said the firm is working "to win back the confidence of investors." Laura McNamara, Putnam spokeswoman, did not return a call by press time for comment.