-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, LGog40QcFXGXBdat0pgR1fpcL8Ow8Xmb+qN+3Ib38SHq426T062qRNB1HIp6hiTy G2X1+hFyuO5Ov6+wUeev2g== 0000807932-95-000006.txt : 199507030000807932-95-000006.hdr.sgml : 19950703 ACCESSION NUMBER: 0000807932-95-000006 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19941231 FILED AS OF DATE: 19950630 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MARSH & MCLENNAN COMPANIES INC CENTRAL INDEX KEY: 0000062709 STANDARD INDUSTRIAL CLASSIFICATION: INSURANCE AGENTS BROKERS & SERVICES [6411] IRS NUMBER: 362668272 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05998 FILM NUMBER: 95551425 BUSINESS ADDRESS: STREET 1: 1166 AVE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 2123455000 MAIL ADDRESS: STREET 1: 1166 AVE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10036 FORMER COMPANY: FORMER CONFORMED NAME: MARLENNAN CORP DATE OF NAME CHANGE: 19760505 11-K 1 PROFIT SHARING RETIRE PLAN PURSUANT TO SECTION 15D Securities and Exchange Commission Washington, D.C. 20549 Form 11-K Annual Report Pursuant to Section 15 (d) of the Securities Exchange Act of 1934 For Fiscal Year Ended December 31, 1994 A. Full title of the plan: PUTNAM INVESTMENTS, INC. PROFIT SHARING RETIREMENT PLAN B. Name the issuer of the securities held pursuant to the Plan and the address of its principal executive office: MARSH & McLENNAN COMPANIES, INC. 1166 Avenue of the Americas New York, NY 10036 PUTNAM INVESTMENTS, INC. PROFIT SHARING RETIREMENT PLAN The Trustees of the plan currently are Gregory F. Van Gundy, Frank J. Borelli, and Francis N. Bonsignore. Mr. Van Gundy is General Counsel and Secretary of Marsh & McLennan Companies, Incorporated (MMC). Mr. Borelli is Senior Vice President and Chief Financial Officer of MMC. Mr. Bonsignore is Senior Vice President - Human Resources and Administration of MMC and has been appointed as Plan Administrator. The business address of all the Trustees is c/o MMC, 1166 Avenue of the Americas, New York, NY 10036. The members of the Application Review Committee currently are Douglas B. Jamieson, Robert W. Burke, and Karen L. Kay. They are officers of Putnam Investments, Inc. or its subsidiaries. The business address of each Committee member is c/o Putnam Investments, Inc. One Post Office Square, Boston, MA 02109. The financial statements of the Plan are included in this Form 11-K and consists of the statements of net assets available for plan benefits as of December 31, 1994 and 1993, and the statements of changes in net assets available for plan benefits for the years ended December 31, 1994, 1993, and 1992 and the report and consent of Deloitte & Touche, independent public accountants, with respect thereto. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Trustees of Putnam Investments, Inc. Profit Sharing Retirement Plan have duly caused this annual report to be signed this 28th day of June, 1995 by the undersigned thereunto duly authorized. PUTNAM INVESTMENTS, INC. PROFIT SHARING RETIREMENT PLAN By /s/ Francis N. Bonsignore Francis N. Bonsignore Plan Administrator INDEPENDENT AUDITORS' CONSENT Putnam Investments, Inc. Profit Sharing Retirement Plan: We hereby consent to the incorporation by reference in Registration Statement No. 2-65096 on Form S-8 of our report dated March 27, 1995, appearing in this Annual Report on Form 11- K of Putnam Investments, Inc. Profit Sharing Retirement Plan for the year ended December 31, 1994. /s/ Deloitte & Touche LLP June 26, 1995 Boston, Massachusetts PUTNAM INVESTMENTS, INC. PROFIT SHARING RETIREMENT PLAN Financial Statements for the Years Ended December 31, 1994, 1993 and 1992 and Supplemental Schedules for the Year Ended December 31, 1994 and Independent Auditors Report PUTNAM INVESTMENTS, INC. PROFIT SHARING RETIREMENT PLAN TABLE OF CONTENTS Page INDEPENDENT AUDITORS' REPORT 1 FINANCIAL STATEMENTS: Statements of Net Assets Available for Plan Benefits, December 31, 1994 and 1993 2 Statements of Changes in Net Assets Available for Plan Benefits for the Years Ended December 31, 1994, 1993 and 1992 3 Notes to Financial Statements 4-9 SUPPLEMENTAL SCHEDULES FOR THE YEAR ENDED DECEMBER 31, 1994: I - Item 27a - Schedule of Assets Held for Investment Purposes 10-11 II - Item 27d - Schedule of Reportable Transactions 12 INDEPENDENT AUDITORS' REPORT To the Trustees of Putnam Investments, Inc. Profit Sharing Retirement Plan: We have audited the accompanying statements of net assets available for plan benefits of Putnam Investments, Inc. Profit Sharing Retirement Plan as of December 31, 1994 and 1993, and the related statements of changes in net assets available for plan benefits for each of the three years in the period ended December 31, 1994. These financial statements are the responsibility of the Plan's Trustees. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, such financial statements present fairly, in all material respects, the net assets available for plan benefits of Putnam Investments, Inc. Profit Sharing Retirement Plan as of December 31, 1994 and 1993, and the changes in its net assets available for plan benefits for each of the three years in the period ended December 31, 1994 in conformity with generally accepted accounting principles. Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules listed in the Table of Contents are presented for the purpose of additional analysis and are not a required part of the basic financial statements, but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. These schedules are the responsibility of the Plan's trustees. Such schedules have been subjected to the auditing procedures applied in our audits of the basic financial statements and, in our opinion, are fairly stated in all material respects when considered in relation to the basic financial statements taken as a whole. //Deloitte & Touche LLP// March 27, 1995
PUTNAM INVESTMENTS, INC. PROFIT SHARING PLAN STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS DECEMBER 31, 1994 AND 1993 1994 1993 ASSETS: Investments, at fair value (Notes 1, 2, 3 and 6): The George Putnam Fund of Boston $ 7,748,222 $ 8,828,419 Putnam Fund for Growth and Income 10,930,792 12,529,306 Putnam Voyager Fund 13,420,804 13,753,676 Putnam New Opportunities Fund 9,618,393 8,328,314 Putnam Money Market Fund 19,159,740 15,113,221 Equity Funds 33,575,010 32,289,904 Bond Funds 14,763,408 19,044,753 Guaranteed investment contracts 13,247,011 11,408,537 Marsh & McLennan Companies, Inc. common stock 1,362,006 1,271,968 Participant loans 2,275,230 1,752,053 ----------- ----------- Total investments 126,100,616 124,320,151 Employer contributions receivable (Note 2) 2,509,255 2,200,930 ----------- ----------- TOTAL ASSETS $128,609,871 $126,521,081 ============ ============ NET ASSETS AVAILABLE FOR PLAN BENEFITS $128,609,871 $126,521,081 ============ ============ See notes to financial statements. /TABLE PUTNAM INVESTMENTS, INC. PROFIT SHARING RETIREMENT PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS YEARS ENDED DECEMBER 31, 1994, 1993 AND 1992 1994 1993 1992 ADDITIONS: Investment income: Net appreciation (depreciation) in fair value of investments (Notes 1,4 and 6) $ (5,705,087) $ 7,867,469 $ 778,203 Dividend income 5,502,034 6,561,290 6,015,120 Interest income 1,000,215 939,537 1,129,974 -------------- ------------- ------------ Total investment income 797,162 15,368,296 7,923,297 CONTRIBUTIONS Employer (Note 2) 9,659,708 8,290,627 9,053,311 Employee (Note 2) 5,212,966 4,286,986 2,586,738 -------------- ------------- ------------ Total additions 15,669,836 27,945,909 19,563,346 DEDUCTIONS - Benefits paid to participants 13,581,046 3,321,203 5,466,873 -------------- ------------- ------------ NET INCREASE 2,088,790 24,624,706 14,096,473 NET ASSETS AVAILABLE FOR PLAN BENEFITS: Beginning of year 126,521,081 101,896,375 87,799,902 -------------- ------------- ------------ End of year $ 128,609,871 $126,521,081 $101,896,375 ============= ============ ============ See notes to financial statements. /TABLE PUTNAM INVESTMENTS, INC. PROFIT SHARING RETIREMENT PLAN NOTES TO FINANCIAL STATEMENTS 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation - The accompanying financial statements of Putnam Investments, Inc. Profit Sharing Retirement Plan (the Plan ) have been prepared on the accrual basis of accounting and present the net assets available for Plan benefits and changes in those net assets. Investments - Investments in equity securities and mutual funds are stated at fair value as determined by quoted market prices based on the last reported sales prices, or the reported net asset value per share on the last business day of the Plan year. Investments in insurance contracts are stated at contract value which equals cost plus interest accrued at the rate guaranteed by the issuer insurance company. Security transactions are recognized on a trade-date basis. Dividend income is recorded on the ex-dividend date; interest income is recorded as earned. The change in the difference between fair value and the cost of investments, including realized gains and losses, is reflected in the statements of changes in net assets available for plan benefits as net appreciation (depreciation) in fair value of investments. Federal Income Taxes - The Plan obtained its latest determination letter on December 24, 1986 in which the Internal Revenue Service stated that the Plan, as then designed, was in compliance with the applicable requirements of the Internal Revenue Code. The Plan has been amended since receiving the determination letter. The plan administrator believes that the Plan is currently designed and being operated in compliance with the applicable requirements of the Internal Revenue Code. Therefore, no provision for income taxes has been included in these financial statements. Administrative Expenses - Expenses of the Plan have been paid by Putnam Investments, Inc. and its subsidiaries, but such payment is at their discretion. 2. DESCRIPTION OF THE PLAN The following description of the Plan is provided for general information purposes only. Participants should refer to the Plan document for a more complete description of the Plan's provisions. (a) General - The Plan, as amended and restated January 1, 1989, is a defined contribution plan that is intended to qualify as a profit-sharing plan under Section 401(a) of the Internal Revenue Code (the Code ) and to constitute a qualified cash or deferred arrangement under Section 401(k) of the Code. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 ( ERISA ). 2. DESCRIPTION OF THE PLAN (CONTINUED) (b) Investment Programs - The Plan allows each participant to elect to have employer contributions and reallocated forfeitures invested in one or more of the following authorized investment vehicles: (1) Any one or a combination of the open-end management investment companies, excluding tax-exempt income funds, for which a subsidiary of Putnam Investments, Inc. acts as an investment adviser. (2) Any one or a combination of contracts with insurance companies which guarantee principal and interest at a fixed rate. (3) Marsh & McLennan Companies, Inc. common stock. (4) Other investment options approved by the Board of Directors of Putnam Investments, Inc., the Trustees of the Plan, and the Chief Executive Officer of Marsh & McLennan Companies, Inc. There were no investments in this option at December 31, 1994, 1993 or 1992. Employer contributions and forfeitures must generally be allocated to not more than eight investments, with apportionments to be no less than 1% per investment. Participants may also elect to have their voluntary contributions invested in any one or more of the authorized investments noted above in (1), (2), (3) and/or (4), provided such elections are allocated to not more than eight authorized investments, with apportionments to be at least 1% to any one investment. With proper written notice, participants may elect to change their investment in either their participation or voluntary accounts twice during a fiscal quarter, not to exceed six investment changes per year. (c) Contributions - The Plan covers substantially all of the employees of Putnam Investments, Inc. and its subsidiaries that have adopted the Plan. Employer contributions are determined at the discretion of each company's Board of Directors. Contributions may not exceed the amount permitted as a deduction under the applicable provisions of the Internal Revenue Code. Employer contributions, by company, for 1994, 1993 and 1992 were as follows:
Employer Contributions 1994 1993 1992 Putnam Investments, Inc. $919,027 $812,839 $844,831 Putnam Investment Management, Inc.1,442,091 1,397,177 1,658,748 The Putnam Advisory Company, Inc. and Subsidiary 1,093,441 933,114 949,817 Putnam Fiduciary Trust Company 4,256,166 3,625,466 4,335,253 Putnam Mutual Funds Corp. and Subsidiary 1,948,983 1,522,031 1,264,662 --------- --------- --------- Total $9,659,708 $8,290,627 $9,053,311 ========== ========== ========== /TABLE 2. DESCRIPTION OF THE PLAN (CONTINUED) (c) Contributions (Continued) - Voluntary employee contributions are accepted within certain limits as defined in the Plan. Participants making contributions are not allowed to withdraw any appreciation on such contributions before termination of employment, but may withdraw their contributions, subject to certain restrictions. Employee contributions, by company, for 1994, 1993 and 1992 were as follows:
Employee Contributions 1994 1993 1992 Putnam Investments, Inc. $ 423,471 $ 280,811$245,242 Putnam Investment Management, Inc. 720,936 1,275,263323,813 Putnam Mutual Funds Corp. and Subsidiary 1,152,808 284,452305,472 Putnam Fiduciary Trust Company 2,401,132 1,457,0161,067,971 The Putnam Advisory Company, Inc. and Subsidiary 514,619 989,444644,240 ---------- ------------------- Total $5,212,966 $4,286,986$2,586,738 ========== =================== (d) Forfeitures - Forfeitures of invested employer contributions are reallocated among the remaining eligible participants one year after the fiscal year in which the forfeitures occur. Reallocation of forfeitures amounted to $488,291 in 1994, $1,317,892 in 1993 and $571,906 in 1992. (e) Participant Accounts and Vesting - The Plan provides that the market value of investments in participant accounts shall be determined each quarter. Unrealized appreciation or depreciation, equal to the difference between actual cost and the quoted market price of the investments at the applicable valuation date, is recognized in determining the value of each fund. The change in unrealized appreciation or depreciation, investment income received and realized gains or losses on investments sold or distributed are allocated to participants' accounts based on each participant's proportionate interest in the investment. Employer contributions and forfeitures are allocated annually based on a uniform percentage of eligible earnings per participant. This percentage was 15% in 1994 and 1993. An employee is not eligible to become a participant until the completion of twelve months of continuous service. Effective January 1, 1994, a participant must be employed on the last day of the Plan s fiscal year (December 31) to be eligible for their portion of the employer s contribution for that year. The vesting of participants, other than voluntary contributions, is as follows: Vested Interest Years of continuous service: Less than two None Two but less than three 25% Three but less than four 50% Four but less than five 75% Five or more 100% If a participant has reached age 60 100% 2. DESCRIPTION OF THE PLAN (CONTINUED) (e) Participant Accounts and Vesting (Continued) - Participants are automatically fully vested in their voluntary contributions. Distributions are based on the vested portion of the participant's account valuation as of the liquidation date coinciding with or following the next valuation date after the individual ceases to be a participant. Such distributions are made within a reasonable period after the individual ceases to be a participant, but not later than sixty days after the close of the fiscal year. The Plan allows terminated participants to maintain their accounts in the Plan, but such accounts do not share in contributions and forfeiture reallocations. The value of these accounts will continue to be determined each quarter. (f) Salary Savings Contributions - It is the intention of the Trustees that the salary savings program be qualified under Section 401(k) of the Internal Revenue Code. The terms of the salary savings agreement provide that the participants' earnings contribution to the Plan will be deducted from their payroll, and that the employer shall contribute this amount to the Plan on behalf of the participants. Investments into the various investment vehicles are at the discretion of the participant. The market value of assets relating to the salary savings program at December 31, 1994 and 1993 was $15,379,768 and $12,321,913, respectively. (g) Loans - Upon the approval of the loan committee, appointed by the Trustees, participants of the Plan may borrow from their accounts, to alleviate financial need as defined by the Plan, an amount which, when added to all other loans to the participant, would not exceed the lesser of (1) a maximum borrowing limit of $50,000 or (2) 50% of the vested balance of the participant's account. All loans shall be secured by the participant's account and will be repaid through payroll deductions according to a fixed repayment schedule which includes interest at a rate consistent with area lending institutions personal loan rates. Loans outstanding at December 31, 1994 and 1993 were $2,275,230 and $1,752,053, respectively. 3. INVESTMENTS Investments that represent 5% or more of total Plan assets at December 31 are as follows: 1994 Putnam Money Market Fund $19,159,740 Putnam Voyager Fund 13,420,804 The Putnam Fund for Growth and Income 10,930,792 Putnam New Opportunities Fund 9,618,393 The George Putnam Fund of Boston 7,748,222 Putnam Fiduciary Trust Co. Stable Value Fund 7,747,284 1993 Putnam Money Market Fund $15,113,221 Putnam Voyager Fund 13,753,676 The Putnam Fund for Growth and Income 12,529,306 The George Putnam Fund of Boston 8,828,419 4. NET APPRECIATION (DEPRECIATION) IN FAIR VALUE OF INVESTMENTS The net appreciation (depreciation) in fair value of each significant class of investments for the years ended December 31 is as follows: 1994 1993 1992 Mutual Funds $(5,667,872) $8,024,221 $621,572 Marsh & McLennan Companies, Inc. common stock (37,215) (156,752) 156,631 ------------ ---------- -------- Total $(5,705,087) $7,867,469 $778,203 ============ ========== ======== 5. SUBSEQUENT DISTRIBUTIONS At December 31, 1994, terminated employees had requested distributions of the vested portion of their accounts totaling $451,216. The source of these distributions by investment program is as follows: Source Amount Mutual funds $411,902 Guaranteed investment contracts 39,314
6. STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS WITH FUND INFORMATION Participant - Directed Putnam Fund George for Growth New Money Equity Putnam and Income Voyager Opportunities Market Funds ADDITIONS Investment income: Net appreciation (depreciation) $ (572,850) $ (741,115) $(536,544) $ 215,602 $ -- $(1,610,991) Dividend income 543,488 707,880 573,062 75,085 372,787 1,532,931 Interest income -- -- -- -- -- -- ----------- ----------- ---------- ---------- ---------- ------------ Total investment income (loss) (29,362) (33,235) 36,518 290,687 372,787 (78,060) CONTRIBUTIONS: Employer -- -- -- -- -- -- Employee 107,058 575,818 698,640 589,159 545,352 1,623,613 ----------- ----------- ---------- ---------- ---------- ------------ Total additions 77,696 542,583 735,158 879,846 918,139 1,545,553 DEDUCTIONS - Benefits paid (1,233,846) (1,980,935) (1,340,305) (1,024,590) (2,431,614) (2,716,747) ----------- ----------- ---------- ---------- ---------- ------------ NET CHANGE PRIOR TO INTERFUND TRANSFERS (1,156,150) (1,438,352) (605,147) (144,744) (1,513,475) (1,171,194) INTERFUND TRANSFERS 75,953 160,162 272,275 1,434,823 4,422,942 2,456,300 ----------- ----------- ---------- ---------- ---------- ------------ NET INCREASE (DECREASE) (1,080,197) (1,598,514) (332,872) 1,290,079 2,909,467 1,285,106 NET ASSETS AVAILABLE Beginning of year 8,828,419 12,529,306 13,753,676 8,328,314 8,406,660 32,289,904 ----------- ----------- ---------- ---------- ---------- ------------ End of year $7,748,222 $10,930,792 $13,420,804 $9,618,393 $11,316,127 $33,575,010 =========== =========== =========== ========== =========== ============ /TABLE
Nonparticipant - Directed Guaranteed MMC Bond Investment Common Participant Money Funds Contracts Stock Loans Other Market Total $(2,421,974) $ -- $(37,215) $ -- $ -- $ -- $(5,705,087) 1,474,690 -- 44,791 -- -- 177,320 5,502,034 -- 833,212 -- 167,003 -- -- 1,000,215 ----------- ----------- ---------- ---------- ---------- ---------------------- (947,284) 833,212 7,576 167,003 -- 177,320 797,162 -- -- -- -- 2,509,255 7,150,453 9,659,708 361,352 181,506 38,457 -- -- 492,011 5,212,966 ----------- ----------- ---------- ---------- ---------- ---------------------- (585,932) 1,014,718 46,033 167,003 2,509,255 7,819,784 15,669,836 (2,277,512) (436,633) (29,888) (108,976) -- -- (13,581,046) ----------- ----------- ---------- ---------- ---------- ---------------------- (2,863,444) 578,085 16,145 58,027 2,509,255 7,819,784 2,088,790 (1,417,901) 1,260,389 73,893 465,150 (2,200,930) (6,682,732) -- ----------- ----------- ---------- ---------- ---------- ---------------------- (4,281,345) 1,838,474 90,038 523,177 308,325 1,137,052 2,088,790 19,044,753 11,408,537 1,271,968 1,752,063 2,200,930 6,706,561 126,521,081 ----------- ----------- ---------- ---------- ---------- ---------------------- $14,763,408 $13,247,011 $1,362,006 $2,275,230 $2,509,255 $7,843,613$128,609,871 =========== =========== ========== ========== ========== ====================== Equity Funds - Includes all funds, not listed separately, whose investments consist principally of equity securities. Bond Funds - Includes all funds, not listed separately, whose investments consist principally of debt securities. * * * * * *
SCHEDULE I PUTNAM INVESTMENTS, INC. PROFIT SHARING RETIREMENT PLAN Item 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES DECEMBER 31, 1994 Number of Current MUTUAL FUNDS: Shares Cost Value The George Putnam Fund of Boston 600,172 7,995,634 7,748,222 The Putnam Fund for Growth and Income859,339 11,047,93510,930,792 Putnam Investors Fund 389,616 3,234,922 2,781,857 Putnam Income Fund 330,523 2,288,548 2,138,487 Putnam Global Growth Fund 547,089 4,582,352 5,293,102 Putnam Vista Fund 576,036 4,126,674 4,135,936 Putnam Voyager Fund 1,165,000 11,108,62713,420,804 Putnam Convertible Income- Growth Trust 177,346 3,045,182 3,037,931 Putnam American Government Income Fund 34,521 334,694 279,281 Putnam Asset Allocation - Growth 28,884 240,921 240,313 Putnam Asset Allocation - Balanced 38,438 326,092 316,733 Putnam Managed Income Trust 17,303 153,596 146,735 Putnam High Yield Advantage Fund 383,720 3,819,001 3,453,479 Putnam Federal Income Fund 3,723 37,826 34,585 Putnam Global Governmental Income Trust 179,118 2,691,975 2,314,209 Putnam OTC Emerging Growth Fund 456,045 4,350,514 4,925,286 Putnam Adjustable Rate U.S. Government Fund 5,037 55,919 50,719 Putnam Diversified Income Trust 100,140 1,236,663 1,124,575 Putnam Utilities Growth 76,366 706,984 667,437 and Income Fund Putnam Overseas Growth Fund 74,524 875,476 875,665 Putnam Asia Pacific Growth Fund 223,387 2,841,332 3,020,192 Putnam Dividend Growth Fund 78,422 768,849 742,653 Putnam Europe Growth Fund 154,639 1,771,800 1,903,609 Putnam New Opportunities Fund 380,625 7,570,647 9,618,393 Putnam Balanced Government Fund 1 7 7 Putnam Capital Appreciation Fund 5,600 59,402 59,977 Putnam Diversified Equity Fund 4,283 36,862 37,174 Putnam Money Market Fund 19,159,740 19,159,74019,159,740 Putnam Equity Income Fund 174,384 1,513,805 1,484,013 Putnam High Yield Trust 357,043 4,663,967 4,088,146 Putnam Health Sciences Trust 92,358 2,453,259 2,755,040 Putnam U.S. Government Income Trust 92,960 1,251,223 1,133,186 Putnam Natural Resources Fund 93,996 1,451,852 1,298,091 --------------------- Total Mutual Funds 105,802,280 109,216,369 (continued) SCHEDULE I
PUTNAM INVESTMENTS, INC. PROFIT SHARING RETIREMENT PLAN ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES DECEMBER 31, 1994 Number of Current Shares Cost Value GUARANTEED INVESTMENT CONTRACTS Hartford Life, 8.50%, 1/31/96 4,324,658 4,324,658 4,324,658 Principle Mutual Life Insurance Co.,5.00%,1/30/97 1,175,069 1,175,069 1,175,069 Putnam Fiduciary Trust Co. Stable Value Fund, 5.60% 7,747,284 7,747,284 7,747,284 ---------- ---------- Total Guaranteed Investment Contracts: 13,247,011 13,247,011 MARSH & McLENNAN COMPANIES, INC. 17,186 1,205,915 1,362,006 COMMON STOCK PARTICIPANT LOANS (Various maturities from 1995 to 2004 at interest rates ranging from 7.5% to 12.75%) -- 2,275,230 2,275,230 ---------- ---------- TOTAL ASSETS HELD FOR INVESTMENT PURPOSES $122,530,436 $126,100,616 ============ ============ (Concluded)
SCHEDULE II
PUTNAM INVESTMENTS, INC. PROFIT SHARING RETIREMENT PLAN ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS YEAR ENDED DECEMBER 31, 1994 Purchase Sales Description Number of Number of Dateof Investment Transactions Principal Transactions Principal VariousPutnam Money Market Fund 15,845 $18,189,735 547 $14,143,215
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