Putnam Investments on Monday launched a suite of multicap equity mutual funds, designed to give its portfolio managers maximum flexibility to invest in their best ideas, said spokesman Jon Goldstein.
The new Putnam Multi-Cap Core Fund, a blend strategy, will be overseen by portfolio manager Gerard Sullivan. He also runs the $1.3 billion large blend Putnam Investors fund.
The $530 million Putnam Multi-Cap Value Fund, meanwhile, is the new name for the Putnam Mid Cap Value Fund; portfolio manager James Polk will continue to run the fund with a new expanded mandate to invest across all capitalization levels.
The Putnam Multi-Cap Growth Fund, combining the former Putnam New Opportunities Fund and the Putnam Vista Fund, will start out with roughly $3.5 billion in assets from the previous funds, managed by Robert Brookby, who also managed both previous funds.
In a news release, Robert L. Reynolds, Putnam’s president and CEO, said his firm will look to continue offering “vehicles that place less constraint on where good investments can be found.”