David Glancy on his largest portfolio positions and outlook for U.s. growth potential

Manager expertise

Putnam's David Glancy is a long-time specialist in leveraged-company investing, with over 25 years of experience in the asset class.

Unconstrained approach

Putnam Spectrum Funds can invest across the capital structure – going long or short on specific securities – pursuing a combination of capital appreciation and current income.

Concentrated portfolio

Less can sometimes be more. David Glancy's conviction weights portfolio positions in Putnam Spectrum Funds.

Ability to go to cash

The funds have the latitude to allocate a large weighting to cash. A key benefit of this is that it allows David Glancy to establish large positions quickly when his conviction is high.

Diversification potential

Putnam Spectrum Funds' unique strategy and focus on leveraged companies can make them a diversifying complement to core portfolio holdings.

Putnam Capital Spectrum Fund

Putnam Capital Spectrum FundInvests throughout the capital structure, seeking total return from debt and equity securities.

Seeks total return

Invests in equity securities, as well as fixed- and floating-rate income securities of leveraged companies

Asset class diversification can help to reduce volatility

Total return opportunities include income from high-yield bonds and bank loans

Putnam Equity Spectrum Fund

Focuses on equity securities with capital appreciation potential.

Seeks capital appreciation

Invests in equity securities of leveraged companies

Focuses on equities that offer greater potential returns and greater potential volatility

Pursues capital appreciation

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