Putnam Investment Management LLC has announced that shareholders in all its funds have endorsed the planned sale of the company to Great-West Lifeco Inc. by approving management contracts for each fund.
Shareholders were asked at a meeting on Tuesday to approve a contract with the Boston fund company that is to take effect when the Great-West Lifeco sale closes.
Putnam remains headquartered in Boston and retains its brand, operations, personnel, and offices. No changes are expected in the Putnam funds, the way they manage money, or their management teams as a result of the $3.9 billion deal that was announced in February.
The company will continue to be led by Charles E. Haldeman Jr. as president and chief executive officer.
It had $192 billion of assets under management at April 30.
