Damage control effort is targeting advisers; But some want fund firms to address fixing matters.(News)

Investment News, November, 2003

Byline: Rick Miller Running a play out of a crisis management handbook, scandal-tainted mutual fund companies are taking a no-holds-barred approach to keeping financial advisers from pulling assets from their firms. In the case of Boston's Putnam Investments LLC, it's a three-pronged attack: "high contact, high accessibility, overcommunication,'' explains Gordon Forrester, director of marketing at Putnam, which settled fraud charges last week with the Securities and Exchange Commission.

The strategy involves numerous conference calls with advisers, meetings with key account representatives, and the circulation of letters from trustees and company executives. Putnam's parent, New York-based insurance broker Marsh & McLennan Cos. Inc., even took...

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