SOURCE: Putnam Investments

Putnam Investments

January 20, 2011 14:57 ET

Putnam Investments Wins DALBAR Service Award for the 21st Year; Retains Role as Veteran Industry Leader in Service Excellence

BOSTON, MA--(Marketwire - January 20, 2011) - Putnam Investments has been honored for the 21st consecutive year with a DALBAR Service Award for providing industry leading service to shareholders and financial professionals. This year Putnam was honored for providing the highest levels of investor service to shareholders.

"It is an honor to receive the prestigious DALBAR Service Award recognizing Putnam as an industry leader in customer service," said Putnam President and Chief Executive Officer Robert L. Reynolds. "Our operations and service teams have established a deep commitment to our shareholders providing excellent customer service for the past two decades. We are pleased to continue this legacy."

The DALBAR Service Award symbolizes the achievement of the highest tier of service to customers within the financial services industry. It is awarded only to those firms that exceed industry norms in key service areas. Putnam has received DALBAR awards for providing the highest level of customer service to clients for twenty-one consecutive years, since 1990. 

Putnam Investments has also been recognized for outstanding service by the third-party quality service evaluator, National Quality Review (NQR), earning a 5-star rating over the past 5 quarters. To achieve the 5-star designation, each quarter Putnam consistently delivered outstanding quality in the preceding four-quarter rolling period. NQR evaluated Putnam's transaction processing such as cash investments, redemptions, new accounts, exchanges, account maintenance, and transfers.

In 2010, Money Management Executive awarded Putnam Investments first place in their yearly Fund Operations Awards for Back Office Efficiencies/Streamlining. The award recognized Putnam's recent business improvement efforts which yielded savings in operations costs of $20 million.

Under Reynolds leadership, Putnam Investments has focused on strengthening investment performance, industry innovation -- including new products and platforms-- and further development of its retirement products and services. Progress has been demonstrated by an improvement in investment performance across all asset categories, the launch of new products (including the industry's first suite of Absolute Return Funds), the revitalization of the firm's brand, new Web-based tools and the use of social media, and an overall strengthening of talent in key roles.

About Putnam Investments: Putnam Investments is a leading global money management firm with over 70 years of investment experience. As of December 2010, Putnam managed $121 billion in assets. Putnam has offices in Boston, London, Frankfurt, Amsterdam, Tokyo, Sydney, and Singapore. For more information, go to www.putnam.com.

The DALBAR Service Award symbolizes the achievement of the highest tier of service to customers within the financial services industry. It is awarded only to those firms that exceed industry benchmarks after rigorous systematic testing in key service areas. Over the year, DALBAR evaluates telephone interactions and rigorously evaluates the level of service provided to our clients and advisors. Tests focus on the level of expertise provided to each client as well as evaluating the overall client experience for courtesy and efficiency. The winners of this award can confidently consider themselves service leaders within the financial services industry.

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