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Putnam Classic Equity Adds a Second Skipper

Coleman Lannum III named co-manager with Deborah Kuenster.

There's a new hand at the helm of

(PXGIX)

Putnam Classic Equity fund.

Coleman Lannum III has joined Deborah Kuenster as a co-manager of the $2.3 billion broker-sold fund formerly known as

Putnam Fund for Growth and Income II

, according to a Wednesday regulatory filing. Kuenster had taken over the large-cap value fund in January, according to Putnam's Web site.

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Both Kuenster and Lannum joined Putnam in 1997. Previously Kuenster was a senior portfolio manager at

DuPont Pension Fund Investment

and Lannum was director of investor relations at

Mallinckrodt Inc

.

Launched in 1995, the fund's 13.2% five-year annualized return trails the

S&P 500 and more than 70% of its peers, according to Morningstar. Over the past three months, however, it's up 4%, which beats some 70% of its peers and is 2.7 percentage points ahead of the S&P 500.