One of the world's largest mutual fund administrators, Putnam provides investment management for institutional and individual customers, offering more than 80 mutual funds and 50 institutional strategies used in investment accounts and retirement plans. Putnam distributes its products through independent brokers, dealers, financial planners, banks, and retirement plan sponsors in North America, Europe, and Asia. Founded in 1937, Putnam boasts more than $140 billion in assets under management in some 5 million shareholder accounts. Putnam is a subsidiary of insurer Great-West Lifeco (itself a subsidiary of Power Corporation of Canada).