Putnam Investments's New Opportunities Fund is currently closed, but it will re-open to new investors on January 18. Putnam swears that this is a limited-time opportunity, and that the fund will close when new sales reach $1 billion. High demand is the reason for the opening, according to
Laura McNamara, a Putnam spokesperson.
Putnam also announced that the
New Century Growth Fund, previously available only to a limited circle of investors at both Putnam and its subsidiary
Marsh & McLennan, will throw its arms open to the public. The company describes the fund as an aggressive growth fund with a strong emphasis on "new economy" companies, i.e. technology and internet stocks. The public will be welcome starting January 21, and this fund will also be capped at $1 billion in new investment.
New Opportunities, a $26 billion diversified fund closed in June 1997, managed by
Daniel Miller, Jeffrey Lindsey and Kenneth Lang. The New Century Growth Fund is managed by
Charles Swanberg and
Roland Gillis, who also manage the company's Voyager funds. Putnam is based in
Boston and has $375 billion under management.
 
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