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Putnam Small Cap Growth Fund to convert class B shares to class A
By Tali David
Minneapolis, Feb. 22 - Putnam Small Cap Growth Fund announced that all of its class B shares acquired before March 1 will convert automatically to class A shares on March 1, according to a 497 filing with the Securities and Exchange Commission.
Class B shares of the fund acquired on or after March 1will convert automatically to class A shares eight years after the original purchase date.
The filing also noted that effective March 1, there will no longer be any waiver of the fund's distribution and service (12b-1) fees for class B shares, and the fund will pay the full fee of 1%.
The fund's adviser is Boston-based Putnam Investments.
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