Putnam Investments had assets under management of $116.7 billion as of Dec. 31, up 2.5% from the prior quarter but down 3.7% from the year before, according to parent company Great-West Lifeco's fourth-quarter earnings report.
For the latest quarter, market-related gains of $4.6 billion more than offset net outflows of $1.8 billion.
The firm's net outflows for the three months through Dec. 31 were up incrementally from outflows of $1.5 billion for the previous quarter but down by almost half from outflows of $3.5 billion for the year-earlier quarter.
However, net inflows of roughly $3.4 billion for the six months through June 30 left Putnam with net inflows for the 12 months through Dec. 31 of $183 million, a rebound from net outflows of $4.1 billion for 2010.
For the latest quarter, core earnings for Putnam were basically flat, an improvement from a loss of $12 million for the prior quarter and a year-earlier loss of $1 million.
Putnam reported operating margins of 0.5% for the latest period, a rebound from -10% in the third quarter but down from 1.5% for the year-earlier quarter.