S&P Decides Two Putnam Funds Aren't 'Select' After All

Flexing its muscles in the increasingly competitive field of mutual fund tracking services, Standard & Poor's Fund Services yanked its top rating from two Putnam funds on Tuesday because of a lack of portfolio disclosure.

S&P stripped Putnam's (PVISX Quote)Vista and (PINVX Quote) Investors funds of their "select" status because they wouldn't provide monthly and quarterly portfolio updates.

"There's nothing wrong with the funds," says Philip Edwards, managing director of S&P's fund division. "It's just that we don't have the information that we feel is necessary to continue to monitor the funds on an ongoing basis." ...