Deals & People June 11, 2008

Putnam Takes on Portfolio Managers from American Century

Putnam Investments named Gerald Sullivan managing director and senior portfolio manager and Rob Brookby senior vice president and portfolio manager of its U.S. Large Cap Equity group.
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Sullivan and Brookby’s responsibilities will include Putnam Investors Fund, Putnam Tax Smart Equity Fund, and Putnam Capital Appreciation Fund, according to a release. They join Putnam from American Century Investments, where they managed the American Century Fundamental Equity fund.

Prior to American Century, Sullivan was a portfolio manager for the Franklin Templeton Group, and previously a portfolio manager with SunAmerica Asset Management.

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In previous roles, Brookby was an analyst for the American Century Giftrust, Heritage, and Vista portfolios, and had been an equity research analyst at Raymond James Financial.

Sullivan will start at Putnam in late June, and Brookby will join Putnam in early September.

Richard Cervone, a portfolio member of U.S. Core Equity, will be leaving Putnam.

Deals & People June 11, 2008

SSgA, Lincoln Relationship Includes Eight New Funds

State Street Global Advisors (SSgA) was selected by Lincoln Financial Group for an extensive sub-advisory relationship.
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According to a press release, the new relationship will include the management of eight investment portfolios that will be available as subaccounts within Lincoln’s variable annuity, variable life insurance, COLI, 403(b), and 401(k) products. The eight new investment strategies include four rules-based portfolios and four capital weighted index portfolios.

The release said the four rules-based strategies aim to capture the traditional value and small-capitalization premium while creating appropriate levels of diversification at both the stock and sector levels. They are:

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  • Lincoln Variable Investment Product (LVIP) SSgA Large Cap 100 Fundk;
  • LVIP SSgA Small/Mid Cap 200 Fund;
  • LVIP SSgA Developed International 150 Fund;
  • LVIP SSgA Emerging Markets 100 Fund.

The four capitalization-weighted strategies will be offered both on a standalone basis and as components of two new series of risk-based asset allocation models. They are:

  • LVIP SSgA S&P 500 Index Fund;
  • LVIP SSgA Small-Cap Index Fund;
  • LVIP SSgA International Index Fund;
  • LVIP SSgA Bond Index Fund.

Those new investment portfolios will also be used as building blocks for a series of risk-based asset allocation strategies within Lincoln’s Choice Plus variable annuity product suite. The relationship also includes the use of SSgA’s SPDR family of exchange-traded funds in PMFM’s 401(k) Toolbox, a fee-based investment advisory and account management service owned by the registered investment adviser (RIA) offered through Lincoln Financial Group affiliates.

More information is available at www.ssga.com or www.lincolnfinancial.com.

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