Putnam Investments and Sceptre Investment Counsel, which already cooperate on institutional mandates, are teaming up to introduce a family of eight mutual funds for retail investors in Canada.

The funds will be available to investors through select investment advisors beginning in early 2002, subject to regulatory approval.

Of the eight funds, four will invest in Canadian securities and will be managed by Sceptre’s investment professionals. The remaining four funds will invest in U.S. and international securities and will be managed by Putnam’s investment teams. The new funds will cover a range of asset classes and management styles.

“We’re delighted to expand our relationship with Putnam,” stated Rocco Taglioni, managing director Sceptre. “We believe that Putnam’s global investment excellence, coupled with their expertise and commitment to serving the advisor community will present a new and exciting alternative in Canada.”

The joint venture is the second formed between Putnam and Sceptre. In September 2000, the companies announced a strategic partnership under which Sceptre exclusively markets Putnam’s international investment products to Canadian institutions. Putnam also owns a small stake in Sceptre.

“Putnam and Sceptre believe that this diverse family of funds will serve the needs of Canadian individual investors,” said Richard Monaghan, head of Putnam Retail Management. “Our relationship with Sceptre has been extremely positive. We are certain that our partnership will be beneficial to the two companies and, most important, to those who invest in our products.”