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Franklin Templeton has just launched the FTGF Putnam US Large Cap Value Fund, a sub-fund of the Franklin Templeton Global Funds range domiciled in Ireland.

The fund adopts the approach of the Putnam US Large Cap Value Equity Strategy, which has been running since 1992 and has $64 billion in assets under management. The new fund has been registered for sale in Denmark, Finland, Germany, Italy, Norway, Spain, Sweden, Switzerland and the United Kingdom and is now available to European investors.

The launch comes after the California-headquartered investment manager acquired Putnam Investments in January last year.

The Putnam US Large Cap Value Fund aims to seek capital appreciation by investing at least 80 per cent of its total assets in equity securities of large cap US companies which the investment manager believes are undervalued. Specifically, the portfolio managers will focus on underappreciated stocks that are priced attractively relative to their cash flows and poised for positive change.

The fund’s strategy pursues superior risk-adjusted returns through a disciplined approach to idea generation, portfolio construction, and risk management.

The fund’s portfolio managers believe an approach driven by stock selection offers the most potential for consistent outperformance. The team focus on individual stock selection rather than macroeconomic or style factors, which tend to be more volatile.

The new fund will be co-managed by Boston-based portfolio managers Darren Jaroch and Lauren DeMore who have over 24 years of combined experience managing portfolios at Putnam. They are supported by a tenured team of more than 30 research analysts with deep sector expertise. Putnam’s research team includes industry veterans based in Boston, London, and Singapore.

“Putnam is an exceptional manager backed by the scale and resources of Franklin Templeton. We have received widespread interest in this strategy, and we believe it is important to provide our clients with leading capabilities to navigate the current economic environment,” Matt Harrison, head of Americas (ex-US), Europe & UK said. The firm plans to launch 3 more investment vehicles in the next 2 months.