Putnam Investments indicated that fund shareholders supported the sale of Putnam to Great-West Lifeco Inc. by approving new management contracts.

Putnam announced that shareholders in all of its 105 funds, including all 10 of its closed-end funds, have endorsed the previously announced sale of the firm to Great-West Lifeco by approving new management contracts for each fund at a meeting held today.

Shareholders of each fund were asked to approve a new management contract with Putnam Investment Management, LLC that will become effective when the transaction with Great-West Lifeco is concluded. In all but a handful of cases, votes cast for the new contracts represented more than 90% of the total shares voted. The approval of the new management contracts completes a major step toward the close of the transaction, it said.

Putnam added that it remains headquartered in Boston and retains its brand, operations, personnel, and offices. There are no changes to the Putnam funds, to the way Putnam manages money, or to the funds’ management teams expected as a result of the transaction, it said. Putnam’s senior team, including investment and business professionals, remains in place and continues to be led by Putnam president and CEO Charles Haldeman, Jr.

The Putnam funds’ Board of Trustees has been actively involved in the sale process and will continue in its role of overseeing the Putnam funds on behalf of shareholders, it concluded.