Franklin Templeton

rolled out a new large-cap value fund Thursday, just as growth stocks appeared to be recovering from the depths of their recent selloff.

The aptly-named

Large Cap Value

fund will focus on stocks that the managers believe are undervalued, either by traditional yardsticks like price-to-earnings or price-to-book ratios or in light of the company's anticipated growth.

Bill Lippman will lead a portfolio management team that includes Bruce Baughman and Margaret McGee. The trio also manages the firm's

(FRVLX) - Get Franklin Small Cap Value A Report


(FRBSX) - Get Franklin Mutual US Value A Report

Balance Sheet Investment and

(FRMCX) - Get Franklin MicroCap Value A Report

MicroCap Value funds.

Those three funds have had varying degrees of success, but probably don't fairly represent how the new fund might perform since each focuses on small-cap value stocks.

Franklin Templeton is typically known for its value investment style, which has been out of favor for several years. Through April 30, investors have taken $2.8 billion more out the firm's funds than they've invested, according to the latest flow figures from Boston fund consultant

Financial Research


The new fund comes with sales charges of 5.75% on class A shares, 4% on class B shares and 2% on class C shares.

Through Oct. 31, 2001, the expense ratio for class A shares will be capped at 1.25% annually. Expenses on class B and class C shares will be capped at 2.09%. The average large-cap value fund's expense ratio is 1.38%, according to



Putnam Mulls New Tech Fund

Putnam is preparing a tech fund, though when that will be is anyone's guess.

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The broker-sold fund giant has filed paperwork for the


fund with the

Securities and Exchange Commission

. The fund, which will probably commence operations this month, might be incubated, which means it will be sold only to company employees until the firm decides whether to offer it to the general public or liquidate it. Putnam recently

filed paperwork for two other incubated stock funds.

A Putnam official couldn't confirm whether or when the fund might launch to the public.

The filing is short on details, aside from the obvious: The fund will invest primarily in tech stocks. Peter Hadden, Saba Malak and David Santos will hold the reins. The trio joined Putnam in 1992, 1997 and 1986, respectively. They aren't listed as the managers of any other Putnam fund in Morningstar's database.

The firm already has some aggressive funds with significant tech bets. Most recently Putnam launched


New Century Growth in January. The fund had 62% of its assets invested in technology on Jan. 31, and has lost 31.6% over the past three months, according to Morningstar.

Quant Offers Web Discount

Quant Funds

slashed its six stock funds' minimum investments from $2,500 to $500 for those who open a nonretirement account online via the firm's

Web site before Jan. 1.

The firm, founded in 1985, manages only $230 million, while the average stock fund has more than $1 billion, according to Morningstar. Based in Lincoln, Mass., Quant Funds uses both quantitative methods and fundamental research in running its funds.

The firm's minimum investment for IRA accounts is $1,000.

See Wednesday's

Fund Openings, Closings, Manager Moves.

See Monday's

Fund Openings, Closings, Manager Moves.