Putnam Investments has opened its Putnam Capital Opportunities Fund to the public.

The fund, which uses a "growth at a reasonable price" approach, invests in small and medium-size companies, usually with market capitalizations of $300 million to $2 billion, and uses the Russell 2000 index as a benchmark.

The fund, which had been open only to Putnam employees and trustees who live in Massachusetts, was opened to the public July 1. It has $2 million of assets under management.

The fund's management team is the same one that oversees the Putnam Capital Appreciation Fund, which closed to new investors last week. That fund, with $3.1 billion of assets, was closed to limit cash inflow and make it easier to predict, a spokeswoman said.

Putnam is the biggest distributor of mutual funds through banks, with $10 billion in sales last year through that channel. It manages $270 billion of assets.

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