« Back | Press release: March 15, 2013
Putnam Investments receives Lipper Fund awards for strong long-term performance
Three Putnam Mutual Funds Honored
Putnam Investments today announced that three of its mutual funds received 2013 Lipper Fund Awards to honor their consistent, strong risk-adjusted performance relative to peers for periods of three years or more.
At an industry dinner last night in New York City, Putnam was recognized for solid, long-term investment results for three mutual funds, including:
- Putnam Capital Spectrum Fund Y (PVSYX) — 3 years
- Putnam International Capital Opportunities Fund Y (PIVYX) — 10 years
- Putnam International Value Fund Y (PNGYX) — 3 years
Commenting on the awards, Putnam Investments President and Chief Executive Officer Robert L. Reynolds said, "We are honored to be the recipient of Lipper Awards, which recognize the delivery of performance excellence to the marketplace. This type of acknowledgement is a true source of pride because first and foremost, we see our job as working daily to generate strong, sustained risk-adjusted returns for advisors and investors who put their trust in us. We aim to continue to earn that trust."
Putnam Capital Spectrum Fund Y (PVSYX) was the top-performing fund in the Flexible Portfolio Funds category for the 3-year period out of a universe of 43 funds. Managed by David L. Glancy, the fund invests in the total return opportunities of leveraged companies, targeting the investment potential of companies that use a significant amount of debt in their capital structure to achieve their business goals.
Putnam International Capital Opportunities Funds Y (PIVYX) was honored for its performance over a 10-year period in the International Small/Mid-Cap Core Fund category as the number one fund out of 10 contenders. The fund invests in international small and midsize companies that have fewer analysts covering them and therefore offer a greater opportunity to identify stocks priced below their true worth. It is managed by Joseph P. Joseph, Randy J. Farina, CFA, and John McLanahan, CFA.
Putnam International Value Fund Y (PNGYX), managed by Darren A. Jaroch, CFA, and Karan S. Sodhi, CFA, received a 3-year award within the International Large-Cap Value Fund category as the top performer out of 22 funds. Putnam International Value Fund seeks to benefit from undervalued international companies poised to experience positive change. The fund invests in international large and midsize companies to benefit from business opportunities outside the United States.
About the Lipper Fund Awards
The Lipper Fund Awards program honors funds that have excelled in delivering consistently strong risk-adjusted performance, relative to peers. The Lipper Fund Awards take place in 23 countries in Asia, Europe, MENA, and the Americas. The award winners are formally announced between January and April. Ceremonies take place in select countries.
About Putnam Investments
Founded in 1937, Putnam Investments is a leading global money management firm with over 75 years of investment experience. At the end of February 2013, Putnam had $133 billion in assets under management. Putnam has offices in Boston, London, Frankfurt, Beijing, Amsterdam, Tokyo, Singapore and Sydney. For more information, visit putnam.com.
Putnam mutual funds are distributed by Putnam Retail Management.
Lipper Rankings (as of 2/28/13):
|1 year||3 years||5 years||10 years|
|Putnam Capital Spectrum Fund Y (PVSYX)||2% (3/195)||1% (1/112)||–||–|
|Putnam International Capital Opportunities Fund Y (PIVYX)||44% (22/50)||71% (29/40)||48% (16/33)||25% (6/23)|
|Putnam International Value Fund Y (PNGYX)||10% (9/90)||7% (6/85)||48% (34/70||48% (34/70|
Lipper rankings for class Y shares are based on total return without sales charge relative to all share classes of funds with similar objectives as determined by Lipper. Past performance is not indicative of future results.
A Lipper Fund Award is presented to one fund in each Lipper category for achieving the strongest trend of consistent risk-adjusted performance against its category peers over the 3-, 5-, or 10-year periods as of 12/31/12. Fund groups with at least five equity, five bond, or three mixed-asset portfolios in the respective asset classes are eligible for a group award. Fund count represents number of distinct portfolios within classification. Class Y shares are generally only available for corporate and institutional clients.
For Capital Spectrum Fund, these risks apply: Investments in small and/or midsize companies increase the risk of greater price fluctuations. Lower-rated bonds may offer higher yields in return for more risk. Funds that invest in government securities are not guaranteed. Mortgage-backed securities are subject to prepayment risk. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. Bond investments are subject to interest-rate risk, which means the prices of the fund's bond investments are likely to fall if interest rates rise. Bond investments also are subject to credit risk, which is the risk that the issuer of the bond may default on payment of interest or principal. Interest-rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds, which may be considered speculative. Unlike bonds, funds that invest in bonds have ongoing fees and expenses. Our focus on leveraged companies and the fund's "non-diversified" status can increase the fund's vulnerability to these factors. Our use of short selling may increase these risks.The prices of stocks and bonds in the fund's portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including both general financial market conditions and factors related to a specific issuer or industry. You can lose money by investing in the fund.
For International Capital Opportunities and International Value Funds, these risk apply: International investing involves certain risks, such as currency fluctuations, economic instability, and political developments. Additional risks may be associated with emerging-market securities, including illiquidity and volatility. Investments in small and/or midsize companies increase the risk of greater price fluctuations. Derivatives also involve the risk, in the case of many over-the-counter instruments, of the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. The prices of stocks in the fund's portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including both general financial market conditions and factors related to a specific company or industry. You can lose money by investing in the fund.
Investors should carefully consider the investment objectives, risks, charges, and expenses of a fund before investing. For a prospectus, or a summary prospectus if available, containing this and other information for any Putnam fund or product, call your financial representative or call Putnam at 1-800-225-1581. Please read the prospectus carefully before investing.