Active Equities
Global Health Care Fund (Class Y) (PHSYX)
Investing in the health-care sector since 1982
Highlights
Objective
The fund seeks capital appreciation.
Strategy and process
- A dynamic sectorFrom biotech and drugs to devices and hospitals, the fund invests in industries that can profit from the global demand for health-care products and services.
- Seeks growth from innovationInnovative health-care solutions are always in demand, giving the fund potential for positive returns regardless of economic conditions.
- Active managementSupported by experienced research analysts, the portfolio manager uses bottom-up research to assess scientific innovation, regulatory changes, and company fundamentals.
Fund price |
Yesterday’s close | 52-week high | 52-week low |
---|---|---|---|
Net asset value |
$66.81
0.27% | $0.18 |
$70.23
12/17/20 |
$46.61
03/23/20 |
Consistency of positive performance over five years
Performance shown does not reflect the effects of any sales charges. Click on the dots to see specific returns in each five-year period as of the date revealed. Note that returns of 0.00% are counted as positive periods. For complete fund performance, please click on the performance tab.
26.48%
Best 5-year annualized return
(for period ending 03/31/99)
-2.09%
Worst 5-year annualized return
(for period ending 09/30/05)
11.72%
Average 5-year annualized return
Fund facts as of 12/31/20
$1,546.01M
82%
Annually
60
August
746778505 / 1813
04/04/00
Global Sector
PHSYX
Manager commentary | Q4 2020
Active fund pursues growth, innovation in health care
Portfolio Manager Mike Maguire, CFA, explains how fundamental research helps identify innovative, first-in-class health care companies and opportunities.
Literature
Fund documents |
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Fact Sheet (Y share) (PDF) |
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Summary Prospectus (PDF) |
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Statutory Prospectus (PDF) |
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Statement of Additional Information (SAI) (PDF) | |
Annual Report (PDF) |
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Semiannual Report (PDF) |
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Proxy voting results (Form N-PX) (PDF) | |
Equity Outlook (PDF) |
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Performance
Total return (%) as of 12/31/20
Annual performance as of 12/31/20
Annualized Total return (%) as of 12/31/20
Annualized performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
---|---|---|---|---|
Before sales charge | 16.22% | 14.77% | 9.11% | 13.85% |
After sales charge | N/A | N/A | N/A | N/A |
MSCI World Health Care Index (ND) | 13.52% | 12.77% | 9.87% | 13.45% |
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. 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 4.00% and 3.25% for income funds (2.25% for class A of Putnam Floating Rate Income Fund, Short-Term Municipal Income, Short Duration Bond Fund, and Fixed Income Absolute Return 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 Short Duration Bond Fund, Putnam Fixed Income Absolute Return 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, N, R, 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 Strategic Intermediate Municipal Fund, which are based on the historical performance of class B shares). Performance for class A, C, R6, and Y shares of Putnam Mortgage Opportunities Fund before their inception is derived from the historical performance of class I shares, which have been adjusted for the applicable sales charge (or CDSC) and the higher operating expenses for such shares. Returns at public offering price (after sales charge) for class N shares reflect the current maximum initial sales charge of 1.50%. 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 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 12/31/20 | 4.31% | - | |
YTD as of 01/14/21 | 2.90% | - | |
Risk-adjusted performance as of 11/30/20
Alpha (3 yrs.) | 1.07 |
---|---|
Sharpe ratio (3 yrs.) | 0.71 |
Treynor ratio (3 yrs.) | 11.17 |
Information ratio (3 yrs.) | 0.29 |
Volatility as of 11/30/20
Standard deviation (3 yrs.) | 15.57% |
---|---|
Beta | 0.99 |
R-squared | 0.95 |
Capture ratio as of 11/30/20
Up-market (3 yrs.) | 103.14 |
---|---|
Down-market (3 yrs.) | 99.66 |
Morningstar Ratings™ as of 11/30/20
Time period | Funds in category | Morningstar Rating™ |
---|---|---|
Overall | 133 | |
3 yrs. | 133 | |
5 yrs. | 125 | |
10 yrs. | 103 |
Distributions
Record/Ex dividend date | 12/23/20 |
---|---|
Payable date | 12/28/20 |
Income | $0.648 |
Extra income | -- |
Short-term cap. gain | $1.683 |
Long-term cap. gain | $3.519 |
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.
Compare
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** FundVisualizer comparison based on Putnam fund versus the largest fund in its Morningstar category.
Holdings
UnitedHealth Group | 6.46% |
---|---|
Abbvie | 5.59% |
Johnson Johnson | 5.06% |
Novartis Ag | 4.68% |
Roche Holding Ag | 4.58% |
Danaher Corp | 4.10% |
Astrazeneca | 3.69% |
Thermo Fisher Scientific | 3.63% |
Eli Lilly And | 3.46% |
Pfizer | 3.37% |
Top 10 holdings, percent of portfolio | 44.62% |
Top 10 holdings as of 11/30/20 | |
---|---|
UnitedHealth Group | |
Abbvie | |
Johnson Johnson | |
Novartis Ag | |
Roche Holding Ag | |
Danaher Corp | |
Astrazeneca | |
Thermo Fisher Scientific | |
Eli Lilly And | |
Pfizer | |
Holdings represent 44.62% of portfolio |
Top 10 holdings as of 10/31/20 | |
---|---|
UnitedHealth Group | |
Johnson Johnson | |
Abbvie | |
Roche Holding Ag | |
Danaher Corp | |
Thermo Fisher Scientific | |
Astrazeneca | |
Novartis Ag | |
Pfizer | |
Eli Lilly And | |
Holdings represent 43.96% of portfolio |
Top 10 holdings as of 09/30/20 | |
---|---|
UnitedHealth Group | |
Johnson & Johnson | |
Abbvie | |
Roche Holding Ag | |
Merck | |
Thermo Fisher Scientific | |
Danaher Corp | |
Astrazeneca | |
Novartis Ag | |
Eli Lilly | |
Holdings represent 45.08% of portfolio |
Top 10 holdings as of 08/31/20 | |
---|---|
UnitedHealth Group | |
Johnson Johnson | |
Abbvie | |
Roche Holding Ag | |
Merck | |
Astrazeneca | |
Novartis Ag | |
Thermo Fisher Scientific | |
Danaher Corp | |
Ascendis Pharma A/S | |
Holdings represent 45.28% of portfolio |
UNITEDHEALTH GROUP INC SEDOL 2917766 | 6.33% |
---|---|
ABBVIE INC SEDOL B92SR70 | 5.57% |
JOHNSON & JOHNSON SEDOL 2475833 | 5.24% |
ASTRAZENECA PLC SEDOL 0989529 | 4.88% |
NOVARTIS AG-REG SEDOL 7103065 | 4.74% |
ROCHE HOLDING AG-GENUSSCHEIN SEDOL 7110388 | 4.72% |
ELI LILLY & CO SEDOL 2516152 | 3.90% |
THERMO FISHER SCIENTIFIC INC SEDOL 2886907 | 3.53% |
DANAHER CORP SEDOL 2250870 | 3.42% |
BRISTOL-MYERS SQUIBB CO SEDOL 2126335 | 3.18% |
MERCK & CO. INC. SEDOL 2778844 | 2.69% |
PFIZER INC SEDOL 2684703 | 2.64% |
IRONWOOD PHARMACEUTICALS INC SEDOL B3MZ6K5 | 2.24% |
ABBOTT LABORATORIES SEDOL 2002305 | 1.91% |
HUMANA INC SEDOL 2445063 | 1.86% |
STRYKER CORP SEDOL 2853688 | 1.82% |
ANTHEM INC SEDOL BSPHGL4 | 1.72% |
MEDTRONIC PLC SEDOL BTN1Y11 | 1.62% |
DAIICHI SANKYO CO LTD SEDOL B0J7D91 | 1.59% |
ACCELERON PHARMA INC SEDOL BDGTXQ8 | 1.51% |
LONZA GROUP AG-REG SEDOL 7333378 | 1.47% |
VERTEX PHARMACEUTICALS INC SEDOL 2931034 | 1.45% |
BIO-RAD LABORATORIES-A SEDOL 2098508 | 1.45% |
MCKESSON CORP SEDOL 2378534 | 1.43% |
LABORATORY CRP OF AMER HLDGS SEDOL 2586122 | 1.31% |
ROYALTY PHARMA PLC- CL A SEDOL BMVP7Y0 | 1.25% |
SARISSA CAPITAL ACQUISITION SEDOL BMF7JF7 | 1.19% |
REGENERON PHARMACEUTICALS SEDOL 2730190 | 1.13% |
CHANGE HEALTHCARE INC SEDOL BK5CVS5 | 1.03% |
ASCENDIS PHARMA A/S - ADR SEDOL BV9G6B8 | 1.02% |
ZIMMER BIOMET HOLDINGS INC SEDOL 2783815 | 0.99% |
AVANTOR INC SEDOL BJLT387 | 0.99% |
INTUITIVE SURGICAL INC SEDOL 2871301 | 0.93% |
4FRONT VENTURES CORP SEDOL BKFGXD6 | 0.93% |
MERCK KGAA SEDOL 4741844 | 0.90% |
NOVO NORDISK A/S-B SEDOL BHC8X90 | 0.90% |
MERSANA THERAPEUTICS INC SEDOL BF3NP05 | 0.87% |
EDWARDS LIFESCIENCES CORP SEDOL 2567116 | 0.86% |
TAKEDA PHARMACEUTICAL CO LTD SEDOL 6870445 | 0.85% |
INNOVIVA INC SEDOL BDDXF67 | 0.83% |
SEAGEN INC SEDOL BLPK4D2 | 0.81% |
COOPER COS INC/THE SEDOL 2222631 | 0.81% |
AMGEN INC SEDOL 2023607 | 0.76% |
ROCKET PHARMACEUTICALS INC SEDOL BDFKQ07 | 0.74% |
AMERISOURCEBERGEN CORP | 0.70% |
TERUMO CORP SEDOL 6885074 | 0.67% |
LIFESCI ACQUISITION CORP SEDOL BNGJR88 | 0.66% |
BIOGEN INC SEDOL 2455965 | 0.61% |
CIGNA CORP SEDOL BHJ0775 | 0.60% |
HEALTH SCIENCES ACQUISITIONS SEDOL BMWWF91 | 0.56% |
CHUGAI PHARMACEUTICAL CO LTD SEDOL 6196408 | 0.55% |
ALEXION PHARMACEUTICALS INC SEDOL 2036070 | 0.51% |
REVOLUTION MEDICINES INC SEDOL BL71K91 | 0.47% |
EISAI CO LTD SEDOL 6307200 | 0.46% |
ASTELLAS PHARMA INC SEDOL 6985383 | 0.46% |
INSMED INC SEDOL 2614487 | 0.45% |
BIODESIX INC SEDOL BMWXS28 | 0.38% |
POPULATION HEALTH INVESTMENT SEDOL BNDQB91 | 0.31% |
VIATRIS INC SEDOL BMWS3X9 | 0.20% |
AUD/USD 01/20/2021 RBSF | 0.12% |
TREASURY BILL 00.0000 01/26/2021 | 0.07% |
JD HEALTH INTL INC 144A SEDOL BMW8R04 | 0.05% |
AUD/USD 01/20/2021 WPAC | 0.04% |
JPY/USD 02/17/2021 GSFX | 0.03% |
AUD/USD 01/20/2021 JPMCB | 0.03% |
AUD/USD 01/20/2021 PSBS | 0.02% |
TREASURY BILL 00.0000 04/08/2021 | 0.02% |
GBP/USD 03/17/2021 MSCIL | 0.02% |
NZD/USD 01/20/2021 JPMCB | 0.02% |
EUR/USD 03/17/2021 BANKAM | 0.01% |
GBP/USD 03/17/2021 GSFX | 0.01% |
ILS/USD 01/20/2021 SSBT | 0.01% |
JPY/USD 02/17/2021 CSI-FX | 0.01% |
JPY/USD 02/17/2021 UBS | 0.01% |
EUR/USD 03/17/2021 RBSF | 0.00% |
CNH/USD 02/18/2021 UBS | 0.00% |
EUR/USD 03/17/2021 HSBCB | 0.00% |
DKK/USD 03/17/2021 CITI | 0.00% |
JPY/USD 02/17/2021 BCAP-FX | 0.00% |
CHF/USD 03/17/2021 MSCIL | 0.00% |
EUR/USD 03/17/2021 BCAP-FX | 0.00% |
EUR/USD 03/17/2021 GSFX | 0.00% |
EUR/USD 03/17/2021 TDBK | 0.00% |
EUR/USD 03/17/2021 UBS | 0.00% |
EUR/USD 03/17/2021 WPAC | 0.00% |
GBP/USD 03/17/2021 HSBCB | 0.00% |
JPY/USD 02/17/2021 WPAC | 0.00% |
CHF/USD 03/17/2021 BANKAM | 0.00% |
EUR/USD 03/17/2021 SSBT | 0.00% |
JPY/USD 02/17/2021 SSBT | 0.00% |
NEURALSTEM INC SERIES K COMMON STOCK PURCHASE WARRANT | 0.00% |
CNH/USD 02/18/2021 SSBT | -0.00% |
CHF/USD 03/17/2021 UBS | -0.00% |
EUR/USD 03/17/2021 CITI | -0.00% |
CHF/USD 03/17/2021 JPMCB | -0.00% |
GBP/USD 03/17/2021 CITI | -0.01% |
GBP/USD 03/17/2021 BANKAM | -0.01% |
JPY/USD 02/17/2021 BANKAM | -0.01% |
JPY/USD 02/17/2021 JPMCB | -0.01% |
GBP/USD 03/17/2021 SSBT | -0.01% |
GBP/USD 03/17/2021 WPAC | -0.02% |
AUD/USD 01/20/2021 UBS | -0.08% |
UNITEDHEALTH GROUP INC SEDOL 2917766 | 6.15% |
---|---|
JOHNSON & JOHNSON SEDOL 2475833 | 5.71% |
ABBVIE INC SEDOL B92SR70 | 5.22% |
ROCHE HOLDING AG-GENUSSCHEIN SEDOL 7110388 | 4.89% |
MERCK & CO. INC. SEDOL 2778844 | 4.10% |
THERMO FISHER SCIENTIFIC INC SEDOL 2886907 | 4.08% |
ASTRAZENECA PLC SEDOL 0989529 | 3.94% |
NOVARTIS AG-REG SEDOL 7103065 | 3.85% |
DANAHER CORP SEDOL 2250870 | 3.50% |
ELI LILLY & CO SEDOL 2516152 | 3.10% |
ASCENDIS PHARMA A/S - ADR SEDOL BV9G6B8 | 2.38% |
HUMANA INC SEDOL 2445063 | 2.38% |
PFIZER INC SEDOL 2684703 | 2.31% |
BRISTOL-MYERS SQUIBB CO SEDOL 2126335 | 2.21% |
VERTEX PHARMACEUTICALS INC SEDOL 2931034 | 2.17% |
LONZA GROUP AG-REG SEDOL 7333378 | 2.06% |
ABBOTT LABORATORIES SEDOL 2002305 | 2.00% |
ROYALTY PHARMA PLC- CL A SEDOL BMVP7Y0 | 1.97% |
INTUITIVE SURGICAL INC SEDOL 2871301 | 1.96% |
BAXTER INTERNATIONAL INC SEDOL 2085102 | 1.88% |
BOSTON SCIENTIFIC CORP SEDOL 2113434 | 1.88% |
DAIICHI SANKYO CO LTD SEDOL B0J7D91 | 1.51% |
BIO-RAD LABORATORIES-A SEDOL 2098508 | 1.48% |
LABORATORY CRP OF AMER HLDGS SEDOL 2586122 | 1.46% |
ACCELERON PHARMA INC SEDOL BDGTXQ8 | 1.40% |
REGENERON PHARMACEUTICALS SEDOL 2730190 | 1.38% |
SEATTLE GENETICS INC SEDOL 2738127 | 1.35% |
MCKESSON CORP SEDOL 2378534 | 1.30% |
ILLUMINA INC SEDOL 2613990 | 1.29% |
IRONWOOD PHARMACEUTICALS INC SEDOL B3MZ6K5 | 1.17% |
INSMED INC SEDOL 2614487 | 1.16% |
CENTENE CORP SEDOL 2807061 | 1.14% |
NOVO NORDISK A/S-B SEDOL BHC8X90 | 1.08% |
BIOGEN INC SEDOL 2455965 | 1.06% |
CIGNA CORP SEDOL BHJ0775 | 1.03% |
QUIDEL CORP SEDOL 2717591 | 1.00% |
SANOFI SEDOL 5671735 | 0.92% |
AMGEN INC SEDOL 2023607 | 0.88% |
TAKEDA PHARMACEUTICAL CO LTD SEDOL 6870445 | 0.88% |
CHANGE HEALTHCARE INC SEDOL BK5CVS5 | 0.84% |
AVANTOR INC SEDOL BJLT387 | 0.75% |
AMERISOURCEBERGEN CORP | 0.74% |
JAZZ PHARMACEUTICALS PLC SEDOL B4Q5ZN4 | 0.73% |
MERCK KGAA SEDOL 4741844 | 0.68% |
MYLAN NV SEDOL BVFMFG8 | 0.59% |
DANAHER CORP 05.0000 CV PFD | 0.54% |
HEALTH SCIENCES ACQUISITIONS SEDOL BMWWF91 | 0.51% |
4FRONT VENTURES CORP SEDOL BKFGXD6 | 0.49% |
CHUGAI PHARMACEUTICAL CO LTD SEDOL 6196408 | 0.49% |
ASTELLAS PHARMA INC SEDOL 6985383 | 0.46% |
LIFESCI ACQUISITION CORP SEDOL BLCH8B2 | 0.42% |
TERUMO CORP SEDOL 6885074 | 0.42% |
EISAI CO LTD SEDOL 6307200 | 0.37% |
ROCKET PHARMACEUTICALS INC SEDOL BDFKQ07 | 0.24% |
OAK STREET HEALTH INC SEDOL BN2XDL9 | 0.19% |
TREASURY BILL 00.0000 10/27/2020 | 0.16% |
CASH MGMT BILL 00.0000 12/08/2020 | 0.12% |
TREASURY BILL 00.0000 11/05/2020 | 0.07% |
AUD/USD 10/21/2020 RBSF | 0.06% |
GBP/USD 12/16/2020 SSBT | 0.03% |
CHF/USD 12/16/2020 JPMCB | 0.02% |
DKK/USD 12/16/2020 CITI | 0.02% |
AUD/USD 10/21/2020 WPAC | 0.02% |
GBP/USD 12/16/2020 CITI | 0.02% |
AUD/USD 10/21/2020 JPMCB | 0.01% |
AUD/USD 10/21/2020 SSBT | 0.01% |
CHF/USD 12/16/2020 UBS | 0.00% |
NZD/USD 10/21/2020 JPMCB | 0.00% |
ILS/USD 10/21/2020 SSBT | 0.00% |
JPY/USD 11/18/2020 JPMCB | 0.00% |
JPY/USD 11/18/2020 BCAP-FX | 0.00% |
JPY/USD 11/18/2020 CSI-FX | 0.00% |
JPY/USD 11/18/2020 GSFX | 0.00% |
JPY/USD 11/18/2020 SSBT | 0.00% |
JPY/USD 11/18/2020 WPAC | 0.00% |
NEURALSTEM INC SERIES K COMMON STOCK PURCHASE WARRANT | 0.00% |
EUR/USD 12/16/2020 SSBT | -0.00% |
JPY/USD 11/18/2020 UBS | -0.00% |
CHF/USD 12/16/2020 BANKAM | -0.00% |
EUR/USD 12/16/2020 UBS | -0.00% |
EUR/USD 12/16/2020 WPAC | -0.00% |
EUR/USD 12/16/2020 BCAP-FX | -0.00% |
EUR/USD 12/16/2020 TDBK | -0.00% |
GBP/USD 12/16/2020 HSBCB | -0.00% |
JPY/USD 11/18/2020 BANKAM | -0.00% |
EUR/USD 12/16/2020 HSBCB | -0.01% |
GBP/USD 12/16/2020 GSFX | -0.02% |
GBP/USD 12/16/2020 MSCIL | -0.03% |
AUD/USD 10/21/2020 UBS | -0.03% |
EUR/USD 12/16/2020 BANKAM | -0.05% |
Portfolio composition as of 11/30/20
Common stock | 96.31% |
---|---|
Cash and net other assets | 3.15% |
Convertible preferred stock | 0.54% |
Equity statistics as of 11/30/20
Median market cap | $36.96B |
---|---|
Weighted average market cap | $141.51B |
Price to book | 5.02 |
Price to earnings | 17.02 |
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 health care industries may be affected by technological obsolescence, changes in regulatory approval policies for drugs, medical devices, or procedures, and changes in governmental and private payment systems. The fund concentrates on a limited group of industries and is non-diversified. Because the fund may invest in fewer issuers than a diversified fund, 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. The value of investments in the fund's portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political or financial market conditions, investor sentiment and market perceptions, government actions, geopolitical events or changes, and factors related to a specific issuer, geography, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund's portfolio holdings. Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund’s other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund.
Top industry sectors as of 11/30/20
Pharmaceuticals | 39.49% |
---|---|
Biotechnology | 18.42% |
Health Care Providers & Services | 14.82% |
Health Care Equipment & Supplies | 13.19% |
Life Sciences Tools & Services | 7.46% |
Cash and net other assets | 3.15% |
Diversified Financial Services | 2.50% |
Health Care Technology | 0.97% |
0
The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.
Sectors will vary over time.
Country allocation as of 11/30/20
United States | 74.98% |
---|---|
Switzerland | 10.73% |
Japan | 4.64% |
United Kingdom | 3.69% |
Cash and net other assets | 3.15% |
Denmark | 1.95% |
Germany | 0.86% |
0
Expenses
Expense ratio |
Class A | Class B | Class C | Class R | Class R6 | Class Y |
---|---|---|---|---|---|---|
Total expense ratio | 1.07% | 1.82% | 1.82% | 1.32% | 0.72% | 0.82% |
What you pay | 1.07% | 1.82% | 1.82% | 1.32% | 0.72% | 0.82% |
Sales charge
Breakpoint | Class A | Class B | Class C | Class R | Class R6 | Class Y |
---|---|---|---|---|---|---|
$0-$49,999 | 5.75% / 5.00% | 0.00% / 4.00% | 0.00% / 1.00% | -- | -- | -- |
$50,000-$99,999 | 4.50% / 3.75% | 0.00% / 4.00% | 0.00% / 1.00% | -- | -- | -- |
$100,000-$249,999 | 3.50% / 2.75% | -- | 0.00% / 1.00% | -- | -- | -- |
$250,000-$499,999 | 2.50% / 2.00% | -- | 0.00% / 1.00% | -- | -- | -- |
$500,000-$999,999 | 2.00% / 1.75% | -- | 0.00% / 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 R | Class R6 | Class Y | |
---|---|---|---|---|---|---|
0 to 9 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- |
9 to 12 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- |
2 yrs. | 0.00% | 4.00% | 0.00% | -- | -- | -- |
3 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- |
4 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- |
5 yrs. | 0.00% | 2.00% | 0.00% | -- | -- | -- |
6 yrs. | 0.00% | 1.00% | 0.00% | -- | -- | -- |
7+ yrs. | 0.00% | 0.00% | 0.00% | -- | -- | -- |
Trail commissions
Class A | Class B | Class C | Class R | Class R6 | Class Y | |
---|---|---|---|---|---|---|
0.25% | 0.25% | 1.00% | 0.50% | 0.00% | 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 Health Care Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets in the health care 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 health care industries may be affected by technological obsolescence, changes in regulatory approval policies for drugs, medical devices, or procedures, and changes in governmental and private payment systems. The fund concentrates on a limited group of industries and is non-diversified. Because the fund may invest in fewer issuers than a diversified fund, 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. The value of investments in the fund's portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political or financial market conditions, investor sentiment and market perceptions, government actions, geopolitical events or changes, and factors related to a specific issuer, geography, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund's portfolio holdings. Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund’s other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund.