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 AMT-Free Municipal Fund, which are based on the historical performance of class B shares). Performance for class A, C, 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.
Active Equities
Focused Equity Fund (Class Y) (PGILX)
A concentrated portfolio of stocks believed to offer upside potential that exceeds risk
Highlights
Objective
The fund seeks capital appreciation.
Strategy and process
- Seeks to limit downside riskSeeks to protect capital during market drawdowns while investing in stocks believed to have multiple catalysts to drive returns.
- Multi-skilled managerThe portfolio manager has more than 20 years of experience in the investment industry, including private equity, hedge funds, and mutual funds.
- Evaluates sentimentThe investment process combines fundamental analysis with consideration of investor sentiment and asset flows.
Fund price |
Yesterday’s close | 52-week high | 52-week low |
|---|---|---|---|
| Net asset value |
$22.79
0.00% | $0.00 |
$22.82
11/27/19 |
$16.86
12/24/18 |
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.
26.08%
Best 5-year annualized return
(for period ending 03/31/14)
5.52%
Worst 5-year annualized return
(for period ending 12/31/18)
14.35%
Average 5-year annualized return
Fund facts as of 11/30/19
$179.37M
229%
Annually
30
August
746764588 / 1868
12/18/08
Blend
PGILX
Literature
Fund documents |
|
| Fact Sheet (Y share) (PDF) |
|
| Summary Prospectus (PDF) |
|
| Statutory Prospectus (PDF) |
|
| Statement of Additional Information (SAI) (PDF) | |
| Annual Report (PDF) |
|
| Semiannual Report (PDF) |
|
| Proxy voting results (Form N-PX) (PDF) | |
| Equity Outlook (PDF) |
|
Performance
Total return (%) as of 09/30/19
Annual performance as of 09/30/19
Annualized Total return (%) as of 09/30/19
| Annualized performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
|---|---|---|---|---|
| Before sales charge | -1.04% | 10.21% | 9.79% | 12.93% |
| After sales charge | N/A | N/A | N/A | N/A |
| S&P 500 Index | 4.25% | 13.39% | 10.84% | 13.24% |
| MSCI Wrld Industls (ND) - S&P 500 Linked Benchmark | 1.27% | 9.77% | 7.73% | 9.93% |
Performance snapshot
| Before sales charge | After sales charge | ||
|---|---|---|---|
| 1 mt. as of 11/30/19 | 2.67% | - | |
| YTD as of 12/13/19 | 27.25% | - | |
Distributions
| Record/Ex dividend date | 12/21/18 |
|---|---|
| Payable date | 12/26/18 |
| Income | -- |
| Extra income | -- |
| Short-term cap. gain | -- |
| Long-term cap. gain | $1.495 |
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
See how this fund stacks up against its peers with FundVisualizer®
New to FundVisualizer? Watch tutorials on how to get started.
For more tutorials, please visit Advisor Tech Tips
** FundVisualizer comparison based on Putnam fund versus the largest fund in its Morningstar category.
Holdings
| Microsoft Corp | 8.97% |
|---|---|
| Apple | 7.74% |
| Amazon.Com | 6.37% |
| Procter Gamble The | 5.26% |
| Raytheon | 5.14% |
| Walmart | 5.03% |
| Nextera Energy | 4.82% |
| Honeywell International | 4.81% |
| Visa | 4.30% |
| Goldman Sachs Group The | 4.18% |
| Top 10 holdings, percent of portfolio | 56.62% |
| Top 10 holdings as of 10/31/19 | |
|---|---|
| Microsoft Corp | |
| Apple | |
| Amazon.Com | |
| Procter Gamble The | |
| Raytheon | |
| Walmart | |
| Nextera Energy | |
| Honeywell International | |
| Visa | |
| Goldman Sachs Group The | |
| Holdings represent 56.62% of portfolio | |
| Top 10 holdings as of 09/30/19 | |
|---|---|
| Microsoft Corp | |
| Amazon.Com | |
| Nextera Energy | |
| Visa | |
| Merck | |
| Danaher Corp | |
| Waste Connections | |
| Walmart | |
| Roper Technologies | |
| Fidelity National Information Services | |
| Holdings represent 51.22% of portfolio | |
| Top 10 holdings as of 08/31/19 | |
|---|---|
| Microsoft Corp | |
| Amazon.Com | |
| Visa | |
| Nextera Energy | |
| Walmart | |
| Apollo Global Management Llc | |
| Merck | |
| Roper Technologies | |
| Fidelity National Information Services | |
| Waste Connections | |
| Holdings represent 51.74% of portfolio | |
| Top 10 holdings as of 07/31/19 | |
|---|---|
| Microsoft Corp | |
| Amazon.Com | |
| Visa | |
| Nextera Energy | |
| Cisco Systems | |
| Fidelity National Information Services | |
| Roper Technologies | |
| Live Nation Entertainment | |
| Walt Disney The | |
| Transdigm Group | |
| Holdings represent 43.59% of portfolio | |
| MICROSOFT CORP SEDOL 2588173 | 8.40% |
|---|---|
| AMAZON.COM INC SEDOL 2000019 | 6.47% |
| NEXTERA ENERGY INC SEDOL 2328915 | 5.21% |
| VISA INC-CLASS A SHARES SEDOL B2PZN04 | 5.16% |
| MERCK & CO. INC. SEDOL 2778844 | 4.44% |
| DANAHER CORP SEDOL 2250870 | 4.38% |
| WASTE CONNECTIONS INC SEDOL BYVG1F6 | 4.37% |
| WALMART INC SEDOL 2936921 | 4.27% |
| ROPER TECHNOLOGIES INC SEDOL 2749602 | 4.27% |
| FIDELITY NATIONAL INFO SERV SEDOL 2769796 | 4.25% |
| ALLSTATE CORP SEDOL 2019952 | 4.24% |
| HONEYWELL INTERNATIONAL INC SEDOL 2020459 | 4.15% |
| GODADDY INC - CLASS A SEDOL BWFRFC6 | 4.00% |
| APOLLO GLOBAL MANAGEMENT INC SEDOL BKRLVD5 | 3.96% |
| LIVE NATION ENTERTAINMENT IN SEDOL B0T7YX2 | 3.72% |
| TRANSDIGM GROUP INC SEDOL B11FJK3 | 3.67% |
| GOLDMAN SACHS GROUP INC SEDOL 2407966 | 3.46% |
| PROCTER & GAMBLE CO/THE SEDOL 2704407 | 3.42% |
| RAYTHEON COMPANY SEDOL 2758051 | 3.20% |
| BOSTON SCIENTIFIC CORP SEDOL 2113434 | 3.17% |
| COCA-COLA CO/THE SEDOL 2206657 | 2.91% |
| CHENIERE ENERGY INC SEDOL 2654364 | 2.90% |
| OKTA INC SEDOL BDFZSP1 | 2.80% |
| PAYPAL HOLDINGS INC SEDOL BYW36M8 | 2.43% |
| TREASURY BILL 00.0000 11/21/2019 | 0.06% |
Portfolio composition as of 10/31/19
| Common stock | 99.48% |
|---|---|
| Cash and net other assets | 0.52% |
Equity statistics as of 10/31/19
| Median market cap | $89.42B |
|---|---|
| Weighted average market cap | $353.78B |
| Price to book | 5.23 |
| Price to earnings | 21.08 |
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 fund concentrates on a limited number of issuers or sectors 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. You can lose money by investing in the fund.
Top industry sectors as of 10/31/19
| Information technology | 23.06% |
|---|---|
| Industrials | 19.61% |
| Health care | 13.85% |
| Financials | 11.24% |
| Consumer staples | 10.29% |
| Communication services | 8.27% |
| Consumer discretionary | 6.37% |
| Utilities | 4.82% |
| Energy | 1.97% |
| Other | 0.52% |
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 10/31/19
| United States | 99.48% |
|---|---|
| Cash and net other assets | 0.52% |
0
Expenses
Expense ratio |
Class A | Class B | Class C | Class R | Class R6 | Class Y |
|---|---|---|---|---|---|---|
| Total expense ratio | 1.27% | 2.02% | 2.02% | 1.52% | 0.88% | 1.02% |
| What you pay | 1.27% | 2.02% | 2.02% | 1.52% | 0.88% | 1.02% |
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% | 0.50% | -- | -- | -- |
| 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 S&P 500 Index is an unmanaged index of common stock performance. The MSCI World Industrials Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets in the industrial sector. The MSCI World Industrials (ND) - S&P 500 Linked Benchmark represents performance of the MSCI World Industrials Index (ND) through June 21, 2019 and performance of the S&P 500 Index thereafter. You cannot invest directly in an index. As of June 24, 2019, the S&P 500 Index replaced the MSCI World Industrials Index (ND) as the benchmark for this fund because, in Putnam Investment Management, LLC’s opinion, the securities tracked by this index more accurately reflect the types of securities that generally will be held by the fund.
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 fund concentrates on a limited number of issuers or sectors 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. You can lose money by investing in the fund.