Nov. 25, 2003 — Putnam Investments, which has suffered investor defections recently amid the mutual fund trading scandal, saw its assets under management decline by another $9 billion last week.
Putnam was overseeing $247 billion as of Nov. 21, compared with $256 billion a week earlier. The company’s mutual fund assets declined to $163 billion from $168 billion in the latest seven-day period. Institutional assets slipped $4 billion to $84 billion.
A Putnam spokeswoman today attributed $3 billion of the decrease in fund assets to the drop in the overall stock market during the week.