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.