Putnam Investments, Boston, reported outflows totaling roughly $1 billion in November, according to Financial Research Corp., which analyzes estimated mutual fund net flows.
Of the 25 largest fund groups, Putnam had the largest outflows, followed by AIM Distributors, with $593 million. Putnam's year-to-date outflows as of Nov. 30 were approximately $13.8 billion, and assets under management totaled $95.5 billion.
Putnam had outflows of $1.5 billion for November 2005, and $19 billion for the first 11 months of 2005.
"Net flows continue to improve year over year and have been positive in a number of funds. We continue to be confident in our ongoing positive direction of flows, and client activity is up across the firm," said Putnam spokeswoman Sinead Martin.
Power Financial Corp., a Canadian firm, confirmed last week that it is bidding for Putnam but said no agreement had been reached.
