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Putnam Unveils Multi-Cap Fund Lineup
A Putnam news release said each fund manager has the flexibility to
invest in the stocks of companies within their style universe,
regardless of the company’s market capitalization.
“Putnam seeks
to provide advisers a streamlined approach to investing across the
broad universe of stocks within each style category. As a firm, we
increasingly believe there is much opportunity to be gained for clients
through vehicles that place less constraint on where good investments
can be found,” said Putnam Investments President and Chief Executive
Officer Robert L. Reynolds, in the news release.
The new offerings include:
Putnam Multi-Cap Core Fund (Class A: PMYAX) seeks
capital appreciation using a blend strategy, investing in both growth
stocks and value stocks of small, midsize and large companies. The fund
is managed by Gerard Sullivan, who also manages Putnam Investors Fund.
Putnam Multi-Cap Value Fund (Class A: PMVAX) seeks
capital appreciation by investing in value stocks of companies of all
sizes. Formerly known as Putnam Mid Cap Value Fund, the fund’s
investment strategy was expanded to give the fund the flexibility to
invest across all capitalization levels. The fund continues to be
managed by James Polk, who has been Portfolio Manager since 2004.
Putnam Multi-Cap Growth Fund (Class A: PNOPX) seeks capital appreciation by investing in growth stocks of small, midsize and large companies. Formerly known as Putnam New Opportunities Fund, the fund has a new name to better reflect its investment strategy. In addition, this month, Putnam Vista Fund (also a growth fund) was merged into Putnam Multi-Cap Growth Fund.