Putnam Investments plans to cut fees on some mutual funds, not wanting pricing to hinder growth, the Wall Street Journal said, citing an interview with the company's head of global marketing Jeffrey Carney.
The WSJ said Putnam is looking to cut fees on fixed-income funds by an average of 13 percent and will announce the plans on Tuesday.
It will also cut fees on its asset-allocation funds by 10 percent and will do away with management fees on its target-date funds beginning the end of this week, the WSJ reported.
The company plans to seek shareholder approval in September for other pricing changes, including tying management fees on certain stock funds to fund performance, the WSJ said.
(Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Anshuman Daga)