California-based asset manager Franklin Templeton has launched a US large cap value fund aimed at European investors.
The FTGF Putnam US Large Cap Value Fund is a sub-fund of the company’s fund range domiciled in Ireland.
It will follow the approach of the Putnam US Large Cap Value Equity Strategy, which has been running since1992 and has $64 billion in assets under management.
It aims for capital appreciation by investing at least 80% of its total assets in equity securities of large cap US companies which are undervalued. Specifically, portfolio managers will focus on underappreciated stocks that are priced attractively relative to their cash flows and poised for positive change.
The new fund is now available to investors and has been registered for sale in Denmark, Finland, Germany, Italy, Norway, Spain, Sweden, Switzerland and the United Kingdom.
Matt Harrison, Head of Americas (ex-US), Europe & UK said: “Putnam is an exceptional manager backed by the scale and resources of Franklin Templeton.
“We are delighted to offer this exciting new capability to international clients. We have received widespread interest in this strategy, and we believe it is important to provide our clients with leading capabilities to navigate the current economic environment.”
