Wachovia Securities of Charlotte has added Putnam Investments' Small Cap Value Managed account to its separately managed account programs, Putnam announced Tuesday.
Processing Content
The Putnam account invests mainly in common stocks of U.S. companies, with a focus on value stocks. Value stocks are those that Putnam's investment managers believe are undervalued by the market.
Investments by the portfolio are normally at least 80% in small-cap companies of a size similar to those in the Russell 2,000 Value Index. The portfolio team includes James Polk, its leader, and Edward T. Shadek, the deputy head of investments for small-cap equities.
Putnam Investments, of Boston, had $182 billion of assets under management on June 30.
