Putnam Investments announced Monday, June 14, that it will be launching a suite of three U.S. multi-cap equity funds, available by late September 2010. The funds’ objectives, according to the firm, are to provide investors and their advisors with an approach to investing by style–value, core/blend, growth–regardless of the market capitalization of the underlying securities.
The announcement is part of a broader product expansion by the Boston-based money manager over the past 18 months, including Putnam Absolute Return Funds, Putnam Spectrum Funds and Putnam Global Sector Funds.
“As the equity market continues to rapidly evolve, with its ever-changing set of dynamics, there are opportunities to be realized — and potentially losses to be avoided — through more flexible portfolio parameters,” said Putnam Investments President and Chief Executive Officer Robert L. Reynolds, in a prepared statement. “Putnam’s multi-cap suite will allow the funds’ experienced managers to select from all companies within their style universes and essentially build a portfolio of their best ideas, whatever the market cap of the securities they choose.”
Drawing on both new and reconstituted products, Putnam multi-cap products will offer exposure to stocks within the value, core/blend, and growth sectors by using the firm’s stock-picking and fundamental research teams. Each fund’s portfolio manager will have the ability to own a holding as it changes in capitalization without constraints that would require him to sell if the company was to get too large, or that would prevent him from taking advantage of an attractively priced stock.
The Putnam multi-cap equity funds will consist of the following: