Putnam Investments said Monday that it has launched two mutual funds that invest in leveraged companies.

The Putnam Capital Spectrum Fund and the Putnam Equity Spectrum Fund will both be managed by David Glancy, who joined Putnam this year after two decades of specializing in industries of leveraged companies at Andover Capital Group LLC and Fidelity Investments.

The Putnam Capital Spectrum Fund pursues total return by investing in the securities of leveraged companies. The Putnam Equity Spectrum Fund seeks capital appreciation through investments in the equity securities of leveraged companies.

Putnam had $99 billion of assets under management as of March 31.

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