Putnam Investments has launched the Putnam Capital Spectrum Fund and the Putnam Equity Spectrum Fund, two funds that will invest in a full spectrum of underpriced securities of leveraged companies, including stocks, bonds, bank loans and convertible securities.

Veteran fund manager David Glancy will run the two funds. He has 20 years of experience specializing in leveraged investments at Andover Capital and Fidelity Investments.

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