There's a new hand at the helm of
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.
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
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.