Putnam Investments announced Monday it launched a suite of multi-cap equity funds.
The funds, which mark the latest enhancement to the Boston investment manager’s equity products, are designed to provide exposure to the full array of U.S. stocks within the value, core/blend and growth style universes.
The funds allow managers to invest in any stocks of companies within their style universe, regardless of the company’s market capitalization.
The current fund launch follows a series of product grouping that have been introduced by Putnam in the past 18 months. These products include the Putnam Absolute Return Funds, the Putnam Global Sector Funds, and the Putnam Spectrum Funds.
“Putnam seeks to provide advisors 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 Robert L. Reynolds, Putnam’s president and chief executive officer.
He said the company’s new multi-cap funds “allow experienced managers to own what they believe to be the best opportunities within their style universe, no matter how big or small the company may be. In essence, they can build a portfolio of their best ideas.”
The suite of Putnam multi-cap equity funds consists of the Putnam Multi-Cap Core Fund, the Putnam Multi-Cap Value Fund, and the Putnam Multi-Cap Growth Fund.
Putnam had more than $113 billion in assets under management as of Aug. 31.