Putnam Unifies Small Cap Team Management
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Friday, September 10, 2004

Putnam Unifies Small Cap Team Management

Putnam is retooling the management of its small- and mid-capitalization teams, but will it help?

Edward "Ned" Shadek will assume leadership of all of Putnam's small-capitalization teams -- a newly created position, said Laura McNamara, Putnam spokeswoman. Shadek currently manages the Small Cap Value Fund, and will now take on leadership for Small Cap Growth Fund, OTC & Emerging Growth Fund, and the Discovery Growth Fund.

Joe Joseph, head of the Small Cap Core team, will report to Shadek.

"We've had success with this sort of unified group in our fixed income and value areas…we've made similar changes, with great success," said McNamara.

Putnam also announced changes to the management of its mid-capitalization team. Kevin Divney and Paul Marrkand will co-lead management of the New Opportunities Fund in addition to their roles as chief investment officers of the Mid-Cap Growth Team. Dan Miller, the previous New Opportunities Fund manager, is retiring from Putnam, along with Roland Gillis, a managing director of the Specialty Growth Group.

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