FYI: The two new Putnam ESG funds will be formed through the repositioning of two existing products offered by the firm. Putnam Multi-Cap Growth Fund will become Putnam Sustainable Leaders Fund, a multi-cap fund – with $4.3 billion in assets at the end of December 2017 – focused on identifying companies with demonstrated commitment to sustainable business practices. The fund will be managed by Katherine Collins, Head of Sustainable Investing and Shep Perkins, Co-Head of Equities. They will be joined by Assistant Portfolio Manager Stephanie Henderson, an analyst on the firm’s sustainable investing team. Rob Brookby, who previously managed Putnam Multi-Cap Growth Fund, will be leaving the firm to pursue other opportunities.
Additionally, Putnam Multi-Cap Value Fund will become Putnam Sustainable Future Fund, a mid-cap fund – with $450 million in assets at the end of December 2017 – focused on identifying companies with products and services that provide solutions directly contributing to sustainable social, environmental, and economic development. The fund will continue to be managed by Katherine Collins, who will be joined by Assistant Portfolio Manager Stephanie Henderson.
Regards,
Ted
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