That sound you hear is probably the folks at Putnam Investment Management slapping high-fives.
The Boston-based asset management company topped Barron's annual Lippersurvey of mutual-fund performance. Putnam's performance was particularly impressive because the firm rebounded from the previous year's spot in the survey, when it ranked No. 57 out of 59 fund families.
Here's how Barron's top five rounded out:
2. T. Rowe Price
3. Aberdeen Asset Management
4. FAF Advisors
5. Nuveen Asset Management
Fidelity took 26th place.
Fidelity veteran Bob Reynolds joined Putnam as CEO in 2008 and undertook big changes to turnaround performance, including higher 20 experienced large-cap stock analysts and seven portfolio managers. It also launched 14 new products. The firm is a unit of Great-West Lifeco and part of Canadian financial firm Power Financial Corp.