Multi-Cap Core Fund  (PMYAX)

Seeking opportunities across a wide range of stocks


Track this fund

Objective

The fund seeks capital appreciation.

Fund price

Yesterday’s close 52-week high 52-week low
Net asset value $22.22
0.00% | $0.00
$22.22
10/18/17
$17.26
11/04/16
Historical fund price

Consistency of positive performance over five years

Performance represents 5-year returns in rolling quarter-end periods since inception.

Performance shown does not reflect the effects of any sales charges. Note that returns of 0.00% are counted as positive periods. For complete fund performance, please click on the performance tab.

16.94%

Best 5-year annualized return

(for period ending 09/30/16)


11.00%

Worst 5-year annualized return

(for period ending 03/31/16)


14.09%

Average 5-year annualized return


Fund facts as of 09/30/17

Total net assets
$546.53M
Turnover (fiscal year end)
76%
Dividend frequency
Annually
Number of holdings
157
Fiscal year end
April
CUSIP / Fund code
74676P888 / 0076
Inception Date
09/24/10
Category
Blend
Open to new investors
Ticker
PMYAX

Management team


Portfolio Manager

Strategy and process

  • "Go anywhere" approach: The fund invests in stocks of U.S. companies of all sizes, with the flexibility to own both growth and value stocks.
  • A disciplined process: The portfolio manager uses a disciplined bottom-up fundamental investment process that focuses on three buckets of idea generation.
  • Research focus: Backed by an Equity Research team, the portfolio manager uses his stock-picking expertise to identify opportunities and manage risk.

Literature

Fund documents

Fact Sheet (Y share) (PDF)
Prospectus (PDF)
Annual Report (PDF)
Semiannual Report (PDF)
Proxy voting results (Form N-PX) (PDF)
Quarterly commentary (PDF)
Equity Outlook (PDF)
Comparing Putnam's U.S. equity funds (PDF)
The benefits of multi-cap investing (PDF)

Why a meaningful near-term market correction is unlikely
2017 is a rare year without a stock market correction of at least 5%, but that doesn't make a correction more likely in the fourth quarter.
How the Japan election may influence global interest rates
The Japan election could have consequences for the future leadership of the Bank of Japan and the country's impact on global interest rate trends.
Avoiding retirement savings shortfalls requires a team effort
Plan features, employer match, deferral rates, and investor education all work together to help participants avoid retirement savings shortfalls.

Performance

  • Total return (%) as of 09/30/17

  • Annual performance as of 09/30/17

Annualized performance 1 yr. 3 yrs. 5 yrs. Life (inception: 09/24/10 )
Before sales charge 24.23% 9.49% 15.79% 15.89%
After sales charge 17.09% 7.35% 14.42% 14.91%
Russell 3000 Index 18.71% 10.74% 14.23% --

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 09/30/17 3.45 % -2.50 %
YTD as of 10/19/17 17.32 % 10.57 %

Risk-adjusted performance as of 09/30/17

Alpha (3 yrs.) -1.79
Sharpe ratio (3 yrs.) 0.84
Treynor ratio (3 yrs.) 8.78
Information ratio (3 yrs.) -0.46

Volatility as of 09/30/17

Standard deviation (3 yrs.) 10.95%
Beta 1.05
R-squared 0.94

Capture ratio as of 09/30/17

Up-market (3 yrs.) 100.47
Down-market (3 yrs.) 111.03

Lipper rankings as of 09/30/17

Multi-Cap Core Funds Percentile ranking Rank/Funds in category
1 yr. 2% 12/773
3 yrs. 36% 231/649
5 yrs. 5% 25/569
10 yrs.   --

Morningstar ratings as of 09/30/17

Large Blend Rating Funds in category
Overall (477)
3 yrs. (1218)
5 yrs. (1083)

Distributions

Record/Ex dividend date 12/07/16
Payable date 12/09/16
Income $0.179
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 09/30/17

Microsoft Corp 3.36%
Bank Of America Corp 2.51%
JPMorgan Chase 2.43%
Apple 2.42%
Citigroup 2.35%
Alphabet 2.27%
Wal-Mart Stores 1.56%
Amgen 1.36%
Johnson & Johnson 1.24%
Royal Dutch Shell 1.23%
Top 10 holdings, percent of portfolio 20.73%

Full portfolio holdings as of 06/30/17

MICROSOFT CORP 3.11%
APPLE INC 2.40%
BANK OF AMERICA CORP 2.36%
JPMORGAN CHASE & CO 2.33%
CITIGROUP INC 2.18%
JOHNSON & JOHNSON 1.64%
WAL-MART STORES INC 1.52%
ALPHABET INC-CL A 1.46%
AMGEN INC 1.26%
ALPHABET INC-CL C 1.25%
WALGREENS BOOTS ALLIANCE INC 1.25%
PEPSICO INC 1.17%
CISCO SYSTEMS INC 1.11%
MORGAN STANLEY 1.11%
INTL BUSINESS MACHINES CORP 1.05%
PFIZER INC 1.00%
GOLDMAN SACHS GROUP INC 0.99%
BECTON DICKINSON AND CO 0.95%
DXC TECHNOLOGY CO 0.92%
AMAZON.COM INC 0.87%
BAXTER INTERNATIONAL INC 0.87%
ROYAL DUTCH SHELL-SPON ADR-A 0.85%
HOME DEPOT INC 0.82%
CAPITAL ONE FINANCIAL CORP 0.79%
NORFOLK SOUTHERN CORP 0.79%
BOEING CO/THE 0.78%
COMCAST CORP-CLASS A 0.75%
FACEBOOK INC-A 0.73%
INVESCO LTD 0.73%
CELGENE CORP 0.72%
ROCKWELL AUTOMATION INC 0.72%
GILEAD SCIENCES INC 0.71%
AT&T INC 0.70%
CVS HEALTH CORP 0.69%
HUMANA INC 0.66%
LAM RESEARCH CORP 0.66%
MCKESSON CORP 0.66%
MERCK & CO. INC. 0.66%
PULTEGROUP INC 0.66%
ANTHEM INC 0.65%
APPLIED MATERIALS INC 0.63%
ENTERPRISE PRODUCTS PARTNERS 0.63%
PENN NATIONAL GAMING INC 0.63%
ASSURED GUARANTY LTD 0.62%
LIVE NATION ENTERTAINMENT IN 0.62%
TEXAS INSTRUMENTS INC 0.62%
CLOVIS ONCOLOGY INC 0.60%
EXELON CORP 0.60%
COCA-COLA CO/THE 0.59%
JAZZ PHARMACEUTICALS PLC 0.59%
LAS VEGAS SANDS CORP 0.59%
OSHKOSH CORP 0.59%
PLAYA HOTELS & RESORTS NV 0.59%
AMERIPRISE FINANCIAL INC 0.58%
CF INDUSTRIES HOLDINGS INC 0.58%
ENTERGY CORP 0.58%
GOODYEAR TIRE & RUBBER CO 0.58%
MANPOWERGROUP INC 0.58%
HCA HEALTHCARE INC 0.57%
WYNDHAM WORLDWIDE CORP 0.57%
SYNCHRONY FINANCIAL 0.56%
BLOOMIN' BRANDS INC 0.55%
HANESBRANDS INC 0.55%
ORACLE CORP 0.55%
VALERO ENERGY CORP 0.55%
BIOVERATIV INC 0.54%
DOW CHEMICAL CO/THE 0.54%
DR PEPPER SNAPPLE GROUP INC 0.54%
REGIONS FINANCIAL CORP 0.54%
DELTA AIR LINES INC 0.53%
FREEPORT-MCMORAN INC 0.53%
HONEYWELL INTERNATIONAL INC 0.53%
LINCOLN NATIONAL CORP 0.53%
PRUDENTIAL FINANCIAL INC 0.53%
STATE STREET CORP 0.53%
BAKER HUGHES INC 0.52%
BYLINE BANCORP INC 0.52%
CATERPILLAR INC 0.52%
CONVERGYS CORP 0.52%
DELL TECHNOLOGIES INC-CL V 0.52%
SOUTHWEST AIRLINES CO 0.52%
SUNCOR ENERGY INC 0.52%
AMERICAN INTERNATIONAL GROUP 0.51%
BEST BUY CO INC 0.51%
CONOCOPHILLIPS 0.51%
DISH NETWORK CORP-A 0.51%
NRG ENERGY INC 0.51%
UNITED RENTALS INC 0.51%
CBRE GROUP INC - A 0.50%
E*TRADE FINANCIAL CORPORATION 0.50%
HP INC 0.49%
INTEL CORP 0.49%
NCR CORPORATION 0.49%
NORTHROP GRUMMAN CORP 0.49%
BERRY GLOBAL GROUP INC 0.48%
BIOGEN INC 0.48%
UNITED CONTINENTAL HOLDINGS 0.48%
CF CORP FORWARD PURCHASE P/P 144A 0.47%
HYATT HOTELS CORP - CL A 0.47%
MARATHON OIL CORP 0.47%
CUMMINS INC 0.46%
EXPEDIA INC 0.46%
GARDNER DENVER HOLDINGS INC 0.46%
RADIAN GROUP INC 0.46%
T-MOBILE US INC 0.46%
TERADYNE INC 0.46%
XEROX CORP 0.46%
AMERICAN AIRLINES GROUP INC 0.45%
EBAY INC 0.45%
NOMAD FOODS LTD 0.45%
CISION LTD 0.43%
JOHNSON CONTROLS INTERNATION 0.43%
LEAR CORP 0.42%
HEWLETT PACKARD ENTERPRIS 0.41%
JABIL INC 0.41%
ARMADA HOFFLER PROPERTIES IN 0.40%
CONN'S INC 0.40%
DANAHER CORP 0.40%
KAPSTONE PAPER AND PACKAGING 0.40%
LOWES COMPANIES INC 0.40%
TARGET CORP 0.40%
ALCOA CORP 0.39%
KKR & CO LP 0.39%
PINNACLE FOODS INC 0.38%
QUALCOMM INC 0.38%
STAPLES INC 0.38%
EXPRESS SCRIPTS HOLDING CO 0.37%
TPG PACE HOLDINGS CORP 0.37%
DELIVERY HERO AG 0.36%
SPIRIT AEROSYSTEMS HOLD-CL A 0.36%
TELEPHONE AND DATA SYSTEMS 0.36%
FINISH LINE/THE - CL A 0.34%
GAP INC/THE 0.34%
JELD-WEN HOLDING INC 0.34%
J. JILL INC 0.33%
THE EURO EUR CALL ACCOUNT 0.33%
EASTERLY ACQUISITION CORP 0.32%
EASTERLY GOVERNMENT PROPERTI 0.32%
HARTFORD FINANCIAL SVCS GRP 0.32%
HUDSON TECHNOLOGIES INC 0.32%
ROSS STORES INC 0.32%
ECHOSTAR CORP-A 0.29%
REYNOLDS AMERICAN INC 0.29%
STERICYCLE INC 0.28%
KENNEDY-WILSON HOLDINGS INC 0.27%
BMC STOCK HOLDINGS INC 0.26%
DEL TACO RESTAURANTS INC 0.26%
KRAFT HEINZ CO/THE 0.26%
KOMATSU LTD 0.25%
GMS INC 0.23%
ALIGNVEST ACQUISITION II COR 0.21%
AIR CANADA 0.20%
SELECT ENERGY SVCS 0.20%
BECTON DICKINSON AND CO 06.1250 CV PFD 0.18%
CF CORPORATION - CLASS A 0.18%
CONDUENT INC 0.18%
UCP INC - CL A 0.17%
DISH NETWORK P/P 144A CV 03.3750 08/15/2026 0.13%
ENSERVCO CORP 0.13%
FORTERRA INC 0.11%
CAPITOL ACQUISITION CORP III 0.10%
GORES HOLDINGS II INC 0.10%
EASTERLY ACQ CORP - CW20 0.01%
FABFURNISH GMBH P/P 0.00%
GLOBAL FASHION GRP P/P 0.00%
NEW BIGFOOT OTHER AS P/P 0.00%
NEW MIDDLE EAST OTHE P/P 0.00%
POUND STERLING CALL ACCOUNT 0.00%
RUSSELL 2000 MINI SEP17 RTAU7 0.00%
S&P MID 400 EMINI SEP17 FAU7 0.00%
S&P500 EMINI FUT SEP17 ESU7 0.00%

Prior top 10 holdings

Top 10 holdings as of 09/30/17
Microsoft Corp
Bank Of America Corp
JPMorgan Chase
Apple
Citigroup
Alphabet
Wal-Mart Stores
Amgen
Johnson & Johnson
Royal Dutch Shell
Holdings represent 20.73% of portfolio
Top 10 holdings as of 08/31/17
Microsoft Corp
Apple
Bank Of America Corp
Alphabet
JPMorgan Chase
Citigroup
Wal-Mart Stores
Johnson & Johnson
Amgen
Walgreens Boots Alliance
Holdings represent 21.40% of portfolio
Top 10 holdings as of 07/31/17
Microsoft
Alphabet
Bank of America
Apple
JPMorgan Chase
Citigroup
Johnson & Johnson
Wal-Mart Stores
Walgreens Boots Alliance
Amgen
Holdings represent 21.98% of portfolio
Top 10 holdings as of 06/30/17
Microsoft
Alphabet
Apple
Bank Of America
JPMorgan Chase
Citigroup
Johnson & Johnson
Wal-Mart Stores
Amgen
Walgreens Boots Alliance
Holdings represent 20.76% of portfolio

Portfolio composition as of 09/30/17

Common stock 98.13%
Cash and net other assets 1.67%
Convertible preferred stock 0.20%

Equity statistics as of 09/30/17

Median market cap $18.36B
Weighted average market cap $134.38B
Price to book 2.62
Price to earnings 15.88

Fund characteristics will vary over time.

Due to rounding, percentages may not equal 100%.

Consider these risks before investing: Investments in small and/or midsize companies increase the risk of greater price fluctuations. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. 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 09/30/17

Information technology 21.60%
Financials 18.58%
Consumer discretionary 13.80%
Health care 12.12%
Industrials 11.34%
Consumer staples 6.88%
Energy 6.41%
Materials 2.99%
Utilities 2.03%
 
Other
4.25%
Cash and net other assets 1.67%
Real estate 1.53%
Telecommunication services 1.05%

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.


Expenses

Expense ratio

Class A Class B Class C Class M Class R Class Y
Total expense ratio 1.03% 1.78% 1.78% 1.53% 1.28% 0.78%
What you pay 1.03% 1.78% 1.78% 1.53% 1.28% 0.78%

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 Russell 3000 Index is an unmanaged index of the 3,000 largest U.S. companies. You cannot invest directly in an index.

Consider these risks before investing: Investments in small and/or midsize companies increase the risk of greater price fluctuations. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. 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.