Putnam Will Make Market-Timers Pay
Firm imposes redemption fee on two international funds.
Starting next week, market-timers will have to pay up to get out of two of Putnam Investments' international funds.
For the first time, Boston-based Putnam Investments will impose redemption fees on two of its mutual funds in an effort to stop quick trading. Starting March 15, investors who try to unload or exchange shares of Putnam Emerging Markets (PMEAX) and Putnam Asia Pacific Growth (PAPAX) within 90 days of originally purchasing them will sacrifice 1% of their assets.