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Putnam Investments is a subsidiary of Franklin Templeton Investments that offers mutual funds, retirement plans and 401 (k)s. It was founded in 1937 by George Putnam and faced several controversies and lawsuits over improper trading and asset management.
This practice hurt long-term buy-and-hold investors in the mutual fund, who experienced a continued drain in the fund's net asset value (or NAV). Late trading was not a new phenomenon. Prior to 1968, most mutual funds used "backward pricing," in which the fund could be bought at the previous closing price.
PanAgora is an American investment management firm that uses quantitative analysis and behavioral economics. It is a subsidiary of Great-West Lifeco and was founded in 1989 by Richard A. Crowell, a pioneer of quantitative investing.
Putnam Investments managed assets worth $176 billion as of July 2022. The company operates in North America, Europe and Asia through offices in Boston, London, Sydney, Munich, Singapore and Tokyo.
Thomas H. Lee Partners is a private equity firm based in Boston, founded in 1974 by Thomas H. Lee. The firm invests in middle market growth companies across various sectors, such as financial technology, services, healthcare, and business solutions.
Ira Rennert is an American billionaire who acquired several companies using junk bonds and paid substantial dividends to himself. He is the chairman and CEO of Renco Group, a diversified industrial company with interests in mining, steel, and defense.
AOL Mail offers secure and personalized email with features like AOL Mail, news, and weather for free. You can also access your email on the go with an iOS & Android app and get help from experts.
Bernard Cornfeld was a Turkish-born American financier and mutual fund salesman who founded Investors Overseas Services (IOS) in the 1960s. He was acquitted of mismanagement charges in 1979 and lived a flamboyant lifestyle in Beverly Hills until his death in 1995.