Jane Putnam, vice president and portfolio manager at OppenheimerFunds, will begin an indefinite leave of absence by the end of the year to spend more time with her family, according to a news release. Ms. Putnam, who has been with the firm for 11 years, is lead portfolio manager of the $8.7 billion Oppenheimer Capital Appreciation Fund. She has also been the lead portfolio manager on the Oppenheimer Capital Appreciation Fund/Variable Annuity. Ms. Putnam will be replaced on the Capital Appreciation Fund by Bill Wilby and Marc Baylin, who will become co-managers after Ms. Putnam begins her leave. Mr. Wilby is currently OFI's senior investment officer, director of equities and a co-manager on the Oppenheimer Global Fund and Global Fund/Variable Annuity. Rajeev Bhaman, co-manager of the Global Fund, will become the fund's lead portfolio manager when Mr. Wilby moves to the Capital Appreciation Fund. Mr. Baylin will join the firm next month as a senior portfolio manager; he was a managing director and lead portfolio manager for JPMorgan Asset Management's large-cap growth strategies. Both Messrs. Wilby and Baylin will report to OppenheimerFunds' CIO, Kurt Wolfgruber, said Jessica Welch, spokeswoman. Mr. Wolfgruber was not immediately available for comment. JPMorgan spokeswoman Jacqueline Meere did not return calls seeking comment on Mr. Baylin's departure.