Global Utilities Fund  (PUGIX)

Investing in the utilities sector since 1990


Track this fund

Objective

The fund seeks capital growth and current income.

Strategy and process

  • A dynamic sector: From electricity, water, and gas to power storage, the fund invests in industries that can profit from the global demand for utilities.
  • A global approach: To seek the best opportunities, the fund's manager has the flexibility to invest in stocks from around the world.
  • Active management: The manager, supported by experienced research analysts, combines rigorous fundamental research with macroeconomic views to pinpoint opportunities across the sector.

Fund price

Yesterday’s close 52-week high 52-week low
Net asset value $13.98
-0.99% | $-0.14
$14.22
11/30/17
$11.23
12/14/16
Historical fund price

Fund facts as of 11/30/17

Total net assets
$179.69M
Turnover (fiscal year end)
43%
Dividend frequency
Quarterly
Number of holdings
28
Fiscal year-end
August
CUSIP / Fund code
746888106 / 0033
Inception date
11/19/90
Category
Global Sector
Open to new investors
Ticker
PUGIX

Management team


Portfolio Manager, Analyst


Literature

Fund documents

Fact Sheet (Y share) (PDF)
Prospectus (PDF)
Annual Report (PDF)
Semiannual Report (PDF)
Proxy voting results (Form N-PX) (PDF)
Equity Outlook (PDF)

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Performance

  • Total return (%) as of 09/30/17

  • Annual performance as of 09/30/17

Annualized performance 1 yr. 3 yrs. 5 yrs. 10 yrs.
Before sales charge 13.41% 5.11% 7.28% 1.29%
After sales charge 6.89% 3.05% 6.02% 0.69%
MSCI World Utilities Index (ND) 10.56% 5.69% 7.78% 1.44%

Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. To obtain the most recent month-end performance, visit putnam.com. Performance assumes reinvestment of distributions and does not account for taxes. Returns before sales charge do not reflect the current maximum sales charges as indicated below. Had the sales charge been reflected, returns would be lower. Returns at public offering price (after sales charge) for class A and class M shares reflect the current maximum initial sales charges of 5.75% and 3.50% for equity funds and Putnam Absolute Return 500 Fund and 700 Fund, and 4.00% and 3.25% for income funds (1.00% and 0.75% for Putnam Floating Rate Income Fund, Putnam Absolute Return 100 Fund and 300 Fund, and Putnam Short-Term Municipal Income Fund), respectively. Class B share returns reflect the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declining to 1% in the sixth year, and is eliminated thereafter (except for Putnam Floating Rate Income Fund, Putnam Absolute Return 100 Fund and 300 Fund, and Putnam Short-Term Municipal Income Fund, which is 1% in the first year, declining to 0.5% in the second year, and is eliminated thereafter). Class C shares reflect a 1% CDSC the first year that is eliminated thereafter. Performance for class B, C, M, R, T1, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (with the exception of Putnam Tax-Free High Yield Fund and Putnam AMT-Free Municipal Fund, which are based on the historical performance of class B shares). Class R5/R6 shares, available to qualified employee-benefit plans only, are sold without an initial sales charge and have no CDSC. Class Y shares are generally only available for corporate and institutional clients and have no initial sales charge. Performance for Class R5/R6 shares before their inception are derived from the historical performance of class Y shares, which have not been adjusted for the lower expenses; had they, returns would have been higher. Class A, M, and T1 shares of Putnam money market funds have no initial sales charge. For a portion of the period, some funds had expenses limitations or had been sold on a limited basis with limited assets and expenses, without which returns would be lower.

Performance snapshot

  Before sales charge After sales charge
1 mt. as of 11/30/17 3.04 % -2.88 %
YTD as of 12/12/17 24.83 % 17.65 %

Risk-adjusted performance as of 10/31/17

Alpha (3 yrs.) -0.74
Sharpe ratio (3 yrs.) 0.35
Treynor ratio (3 yrs.) 4.24
Information ratio (3 yrs.) -0.27

Volatility as of 10/31/17

Standard deviation (3 yrs.) 11.42%
Beta 0.95
R-squared 0.90

Capture ratio as of 10/31/17

Up-market (3 yrs.) 90.91
Down-market (3 yrs.) 94.60

Morningstar ratings as of 10/31/17

Utilities Rating Funds in category
Overall (58)
3 yrs. (58)
5 yrs. (55)
10 yrs. (50)

Distributions

Record/Ex dividend date 09/27/17
Payable date 09/29/17
Income $0.062
Extra income $0.0
Short-term cap. gain --
Long-term cap. gain --

Lipper rankings 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.

The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

The up-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has risen. The ratio is calculated by dividing the manager’s returns by the returns of the index during the up-market, and multiplying that factor by 100. The down-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has dropped. The ratio is calculated by dividing the manager’s returns by the returns of the index during the down-market and multiplying that factor by 100.


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Holdings

Top 10 holdings as of 10/31/17

Exelon Corp 8.43%
Nextera Energy 8.24%
American Electric Power 6.74%
Veolia Environnement 5.71%
American Water Works 5.67%
Southern The 5.62%
Enel Spa 5.04%
Iberdrola 4.53%
Uniper 4.51%
Edison International 4.29%
Top 10 holdings, percent of portfolio 58.78%

Full portfolio holdings as of 09/30/17

EXELON CORP 8.52%
NEXTERA ENERGY INC 7.91%
P G & E CORP 6.93%
AMERICAN ELECTRIC POWER 6.47%
AMERICAN WATER WORKS CO INC 5.80%
VEOLIA ENVIRONNEMENT 5.66%
NRG ENERGY INC 4.53%
UNIPER SE 4.47%
SOUTHERN CO/THE 4.42%
ENEL SPA 4.21%
EDISON INTERNATIONAL 4.20%
SSE PLC 4.16%
IBERDROLA SA 3.93%
NATIONAL GRID PLC 3.82%
DUKE ENERGY CORP 3.43%
AMEREN CORPORATION 3.25%
COM HEM HOLDING AB 2.20%
UNITED UTILITIES GROUP PLC 2.18%
PUBLIC SERVICE ENTERPRISE GP 1.51%
SEMPRA ENERGY 1.49%
KDDI CORP 1.40%
ELECTRIC POWER DEVELOPMENT C 1.34%
DOMINION ENERGY INC 1.09%
KINDER MORGAN INC 1.04%
XCEL ENERGY INC 0.99%
WEC ENERGY GROUP INC 0.98%
ENTERPRISE PRODUCTS PARTNERS 0.76%
CMS ENERGY CORP 0.74%
CAD/USD 10/18/2017 JPMCB 0.01%
DKK/USD 12/20/2017 CITI 0.01%
EUR/USD 12/20/2017 BANKAM 0.01%
EUR/USD 12/20/2017 HSBCB 0.01%
EUR/USD 12/20/2017 JPMCB 0.01%
HKD/USD 11/15/2017 BCAP-FX 0.01%
AUD/USD 10/18/2017 BANKAM 0.00%
AUD/USD 10/18/2017 CITI 0.00%
AUD/USD 10/18/2017 JPMCB 0.00%
CAD/USD 10/18/2017 CITI 0.00%
EUR/USD 12/20/2017 CITI 0.00%
GBP/USD 12/20/2017 HSBCB 0.00%
HKD/USD 11/15/2017 BANKAM 0.00%
JPY/USD 11/15/2017 CITI 0.00%
JPY/USD 11/15/2017 GSFX 0.00%
JPY/USD 11/15/2017 JPMCB 0.00%
NZD/USD 10/18/2017 CSI-FX 0.00%
POUND STERLING CALL ACCOUNT 0.00%
THE EURO EUR CALL ACCOUNT 0.00%
EUR/USD 12/20/2017 GSFX -0.01%
GBP/USD 12/20/2017 SSBT -0.01%
GBP/USD 12/20/2017 UBS -0.01%
SEK/USD 12/20/2017 JPMCB -0.01%
SEK/USD 12/20/2017 SSBT -0.01%
GBP/USD 12/20/2017 BANKAM -0.02%

Prior top 10 holdings

Top 10 holdings as of 10/31/17
Exelon Corp
Nextera Energy
American Electric Power
Veolia Environnement
American Water Works
Southern The
Enel Spa
Iberdrola
Uniper
Edison International
Holdings represent 58.78% of portfolio
Top 10 holdings as of 09/30/17
Exelon Corp
Nextera Energy
Pg&E Corp
American Electric Power
American Water Works
Veolia Environnement
Nrg Energy
Uniper
Southern The
Enel Spa
Holdings represent 58.92% of portfolio
Top 10 holdings as of 08/31/17
Exelon Corp
Nextera Energy
Pg&E Corp
American Electric Power
American Water Works
Veolia Environnement
Uniper
Nrg Energy
Edison International
Enel Spa
Holdings represent 58.87% of portfolio
Top 10 holdings as of 07/31/17
Exelon Corp
Nextera Energy
Pg&E Corp
American Electric Power
American Water Works
Veolia Environnement
Nrg Energy
Edison International
Uniper
Sse
Holdings represent 58.38% of portfolio

Portfolio composition as of 10/31/17

Common stock 97.08%
Cash and net other assets 2.92%

Equity statistics as of 10/31/17

Median market cap $27.78B
Weighted average market cap $35.67B
Price to book 1.81
Price to earnings 16.87

Fund characteristics will vary over time.

Due to rounding, percentages may not equal 100%.

Consider these risks before investing: International investing involves currency, economic, and political risks. Emerging-market securities carry illiquidity and volatility risks. Investments in small and/or midsize companies increase the risk of greater price fluctuations. The utilities industries may be affected by increases in fuel costs, technological obsolescence, changes in regulatory policies, and deregulation. The fund concentrates on a limited group of industries and is non-diversified. Because the fund may invest in fewer issuers, it is vulnerable to common economic forces and may result in greater losses and volatility. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. The use of short selling may result in losses if the securities appreciate in value. Risks associated with derivatives include increased investment exposure (which may be considered leverage) and, in the case of over-the-counter instruments, the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations. Stock prices may fall or fail to rise over time for several reasons, including general financial market conditions and factors related to a specific issuer or industry. You can lose money by investing in the fund.

Top Industry Sectors as of 10/31/17

Electric Utilities 54.09%
Multi-Utilities 21.87%
Independent Power and Renewable Electricity Producers 9.70%
Water Utilities 5.67%
Cash and net other assets 2.92%
Diversified Telecommunication Services 2.27%
Oil, Gas & Consumable Fuels 2.09%
Wireless Telecommunication Services 1.39%

The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.

Sectors will vary over time. Represents the equity portion of the portfolio.

Country Allocation as of 10/31/17

United States 63.11%
United Kingdom 7.67%
Germany 6.04%
France 5.71%
Italy 5.04%
Spain 4.53%
Cash and net other assets 2.92%
Japan 2.71%
Sweden 2.27%

Expenses

Expense ratio

Class A Class B Class C Class M Class R Class Y
Total expense ratio 1.22% 1.97% 1.97% 1.72% 1.47% 0.97%
What you pay 1.22% 1.97% 1.97% 1.72% 1.47% 0.97%

Sales charge/Dealer allowance

 Breakpoint Class A Class B Class C Class M Class R Class Y
$0-$49,999 5.75% / 5.00% 0.00% / 4.00% 0.00% / 1.00% 3.50% / 3.00% -- --
$50,000-$99,999 4.50% / 3.75% 0.00% / 4.00% 0.00% / 1.00% 2.50% / 2.00% -- --
$100,000-$249,999 3.50% / 2.75% -- 0.00% / 1.00% 1.50% / 1.00% -- --
$250,000-$499,999 2.50% / 2.00% -- 0.00% / 1.00% 1.00% / 1.00% -- --
$500,000-$999,999 2.00% / 1.75% -- 0.00% / 1.00% 1.00% / 1.00% -- --
$1M-$4M 0.00% / 1.00% -- -- -- -- --
$4M-$50M 0.00% / 0.50% -- -- -- -- --
$50M+ 0.00% / 0.25% -- -- -- -- --

CDSC

  Class A (sales for $1,000,000+) Class B Class C Class M Class R Class Y
0 to 9 mts. 1.00% 5.00% 1.00% -- -- --
9 to 12 mts. 0.00% 5.00% 1.00% -- -- --
2 yrs. -- 4.00% 0.00% -- -- --
3 yrs. -- 3.00% 0.00% -- -- --
4 yrs. -- 3.00% 0.00% -- -- --
5 yrs. -- 2.00% 0.00% -- -- --
6 yrs. -- 1.00% 0.00% -- -- --
7+ yrs. -- 0.00% 0.00% -- -- --

Trail commissions

  Class A Class B Class C Class M Class R Class Y
  0.25% 0.25% 1.00% 0.65% 0.50% 0.00%
  NA NA NA NA NA NA
  NA NA NA NA NA NA

For sales and trail commission information on purchases over $1 million and participant-directed qualified retirement plans, see a Putnam fund prospectus and the statement of additional information.

The MSCI World Utilities Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets in the utilities sector. You cannot invest directly in an index.

Consider these risks before investing: International investing involves currency, economic, and political risks. Emerging-market securities carry illiquidity and volatility risks. Investments in small and/or midsize companies increase the risk of greater price fluctuations. The utilities industries may be affected by increases in fuel costs, technological obsolescence, changes in regulatory policies, and deregulation. The fund concentrates on a limited group of industries and is non-diversified. Because the fund may invest in fewer issuers, it is vulnerable to common economic forces and may result in greater losses and volatility. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. The use of short selling may result in losses if the securities appreciate in value. Risks associated with derivatives include increased investment exposure (which may be considered leverage) and, in the case of over-the-counter instruments, the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations. Stock prices may fall or fail to rise over time for several reasons, including general financial market conditions and factors related to a specific issuer or industry. You can lose money by investing in the fund.