| PanAgora Asset Management provides institutions worldwide with a wide range of investment management services. Organized in 1985 and incorporated in 1989, PanAgora is privately owned by its principals, Putnam Investments, and Nippon Life Insurance Company in Japan. Headquartered in Boston, the firm manages $13 billion in assets (as of December 31, 2003) for pension plans, endowments, foundations, unions, and financial service providers around the globe. The firm also maintains partnerships in Europe and Asia. |