Putnam Investments has introduced a Small Cap Value Fund for retail investors.

The fund invests in small, undervalued companies that Putnam determines to have strong potential for stock price appreciation. The fund is to hold about 180 stocks, similar to those in the Russell 2000 index.

Its stocks will have an average market capitalization of $800 million, with a range of $200 million to $2 billion. The fund plans to invest in companies with potential earnings growth of 10% to 15% a year.

Putnam, based in Boston, manages $300 billion.

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