Putnam assets decline $4 billion

Putnam Investments' assets under management declined by $4 billion in the third quarter to $209 billion, according to an SEC filing from parent Marsh & McLennan Cos. Inc. Another MMC unit, Mercer Inc., reported a $7 million decline in operating income to $106 million in the same quarter. Overall, Marsh & McLennan reported $21 million in net income for the third quarter, compared with $389 million in the previous quarter. Barbara Perlmutter, spokeswoman, did not return calls seeking comment by press time.