The $10 billion Putnam Voyager Fund,
Kelly Morgan and Robert Ginsberg, who took over as managers in March 2005, have been assiduously trying to turn the ship around, particularly by diversifying the fund's holdings and looking for value stocks whose share prices are cheap compared to their ability to generate cash and above-average profits. That appears to be working, becuase in the trailing past 12 months the fund is up 13%.
They've also increased the fund's exposure to financial services stocks from 11% to 14%, adding shares of
"These companies are being run better than they ever have," Morgan commented.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.