Global Natural Resources Fund (Class Y)  (PGRYX)

Investing in natural resources stocks worldwide since 1980


Track this fund

Highlights

Objective

The fund seeks capital appreciation.

Strategy and process

  • A dynamic sector: From oil and gas to chemicals and metals, the fund invests in industries that can profit from the global demand for natural resources.
  • A global approach: To seek the best opportunities, the fund managers have the flexibility to invest in stocks from around the world.
  • Active management: The managers, supported by experienced research analysts, combine 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 $15.87
-0.75% | $-0.12
$18.10
01/24/18
$15.61
04/02/18
Historical fund price

Fund facts as of 09/30/18

Total net assets
$143.87M
Turnover (fiscal year end)
217%
Dividend frequency
Annually
Number of holdings
33
Fiscal year-end
August
CUSIP / Fund code
746933605 / 1812
Inception date
10/04/05
Category
Global Sector
Open to new investors
Ticker
PGRYX

Management team

Portfolio Manager, Analyst
Portfolio Manager, Analyst


Literature

Fund documents

Fact Sheet (Y share) (PDF)
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 09/30/18

  • Annual performance as of 09/30/18

Annualized Total return (%) as of 09/30/18

Annualized performance 1 yr. 3 yrs. 5 yrs. 10 yrs.
Before sales charge 5.01% 5.71% -3.81% -0.09%
After sales charge N/A N/A N/A N/A
MSCI World Energy & Materials Index (ND) 9.88% 14.16% 2.53% 3.54%

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 Putnam Multi-Asset Absolute Return Fund, and 4.00% and 3.25% for income funds (2.25% and 0.75% for Putnam Short Duration Bond Fund and 1.00% and 0.75% for Putnam Floating Rate Income Fund, Putnam Fixed Income Absolute Return 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 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, 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). 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. 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 09/30/18 1.06 % -
YTD as of 10/22/18 -6.21 % -

Risk-adjusted performance as of 09/30/18

Alpha (3 yrs.) -9.90
Sharpe ratio (3 yrs.) 0.30
Treynor ratio (3 yrs.) 4.47
Information ratio (3 yrs.) -1.50

Volatility as of 09/30/18

Standard deviation (3 yrs.) 16.26%
Beta 1.11
R-squared 0.89

Capture ratio as of 09/30/18

Up-market (3 yrs.) 94.03
Down-market (3 yrs.) 150.36

Morningstar Ratings as of 09/30/18

Time period Funds in category Morningstar Rating
Overall 123
3 yrs. 123
5 yrs. 118
10 yrs. 82
Morningstar category: Natural Resources

Distributions

Record/Ex dividend date 12/21/17
Payable date 12/26/17
Income $0.15
Extra income --
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 09/30/18

Bp 6.32%
Chevron Corp 6.08%
Total 6.06%
Dowdupont 6.01%
ConocoPhillips 5.05%
Rio Tinto 4.57%
Royal Dutch Shell 4.57%
Praxair 4.09%
Valero Energy Corp 3.98%
Anadarko Petroleum Corp 3.88%
Top 10 holdings, percent of portfolio 50.61%

Full portfolio holdings as of 06/30/18

DOWDUPONT INC 6.87%
CHEVRON CORP 6.34%
BP PLC 6.30%
TOTAL SA 5.69%
NEXTERA ENERGY INC 4.50%
CHENIERE ENERGY INC 4.46%
ROYAL DUTCH SHELL PLC-A SHS 4.45%
RIO TINTO PLC 4.44%
CONOCOPHILLIPS 4.30%
VALERO ENERGY CORP 3.62%
PRAXAIR INC 3.56%
CELANESE CORP-SERIES A 3.35%
SHERWIN-WILLIAMS CO/THE 3.30%
ANADARKO PETROLEUM CORP 3.05%
NRG ENERGY INC 3.00%
NORFOLK SOUTHERN CORP 2.99%
MARATHON PETROLEUM CORP 2.59%
SUNCOR ENERGY INC 2.50%
EMERSON ELECTRIC CO 2.08%
ILUKA RESOURCES LTD 2.08%
THYSSENKRUPP AG 1.90%
PIONEER NAT RES CO 1.72%
PACKAGING CORP OF AMERICA 1.54%
CF INDUSTRIES HOLDINGS INC 1.48%
VULCAN MATERIALS CO 1.40%
ENCANA CORP 1.37%
ENVEN ENERGY CORP - P/P 144A 1.36%
FMC CORP 1.36%
SELECT ENERGY SVCS-A-1 1.32%
STEEL DYNAMICS INC 1.22%
VALE SA-SP ADR 1.03%
CENOVUS ENERGY INC 0.78%
POUND STERLING CALL ACCOUNT 0.75%
YELLOW CAKE PLC 144A 0.75%
CAIRN ENERGY PLC 0.55%
GEOPARK LTD 0.52%
THE EURO EUR CALL ACCOUNT 0.07%
AKZO NOBEL 0.04%
EUR/USD 09/19/2018 CITI 0.04%
CHF/USD 09/19/2018 BCAP-FX 0.02%
JPY/USD 08/16/2018 JPMCB 0.02%
AUD/USD 07/18/2018 BANKAM 0.01%
AUD/USD 07/18/2018 CITI 0.01%
AUD/USD 07/18/2018 SSBT 0.01%
CAD/USD 07/18/2018 BANKAM 0.01%
CAD/USD 07/18/2018 GSFX 0.01%
DKK/USD 09/19/2018 CITI 0.01%
EUR/USD 09/19/2018 BCAP-FX 0.01%
EUR/USD 09/19/2018 GSFX 0.01%
EUR/USD 09/19/2018 JPMCB 0.01%
GBP/USD 09/19/2018 GSFX 0.01%
NOK/USD 09/19/2018 JPMCB 0.01%
AUSTRALIAN DOLLAR ACCOUNT 0.00%
CAD/USD 07/18/2018 CITI 0.00%
CAD/USD 07/18/2018 JPMCB 0.00%
CANADIAN DOLLAR ACCOUNT 0.00%
CHF/USD 09/19/2018 JPMCB 0.00%
ENVEN ENERGY CORP-CW P/P 144A 0.00%
ENVEN ENERGY CORP-CW P/P 144A 0.00%
EUR/USD 09/19/2018 BANKAM 0.00%
EUR/USD 09/19/2018 HSBCB 0.00%
GBP/USD 09/19/2018 BCAP-FX 0.00%
GBP/USD 09/19/2018 CITI 0.00%
ILS/USD 07/18/2018 SSBT 0.00%
JPY/USD 08/16/2018 BANKAM 0.00%
JPY/USD 08/16/2018 CITI 0.00%
JPY/USD 08/16/2018 SSBT 0.00%
KOREAN WON CALL ACCOUNT 0.00%
SEK/USD 09/19/2018 JPMCB 0.00%
GBP/USD 09/19/2018 BANKAM -0.02%
HONG KONG DOLLAR CALL ACCOUNT -0.90%

Prior top 10 holdings

Top 10 holdings as of 09/30/18
Bp
Chevron Corp
Total
Dowdupont
ConocoPhillips
Rio Tinto
Royal Dutch Shell
Praxair
Valero Energy Corp
Anadarko Petroleum Corp
Holdings represent 50.61% of portfolio
Top 10 holdings as of 08/31/18
Dowdupont
Chevron Corp
Total
ConocoPhillips
Bp
Valero Energy Corp
Royal Dutch Shell
Sherwin-Williams The
Praxair
Marathon Petroleum Corp
Holdings represent 49.66% of portfolio
Top 10 holdings as of 07/31/18
Dowdupont
Chevron Corp
Total
Bp
ConocoPhillips
Rio Tinto
Royal Dutch Shell
Praxair
Cheniere Energy
Sherwin-Williams The
Holdings represent 50.15% of portfolio
Top 10 holdings as of 06/30/18
Dowdupont
Chevron Corp
Bp
Total
Nextera Energy
Cheniere Energy
Royal Dutch Shell
Rio Tinto
ConocoPhillips
Valero Energy Corp
Holdings represent 50.97% of portfolio

Portfolio composition as of 09/30/18

Common stock 98.05%
Cash and net other assets 1.95%

Equity statistics as of 09/30/18

Median market cap $34.52B
Weighted average market cap $87.10B
Price to book 2.36
Price to earnings 14.34

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 energy and other natural resources industries may be affected by changes in crude oil prices and changes in governmental regulatory policies. 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. Stock prices may fall or fail to rise over time for several reasons, including general financial market conditions, changing market perceptions, changes in government intervention in the financial markets, and factors related to a specific issuer or industry. 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 09/30/18

Oil, Gas & Consumable Fuels 51.20%
Chemicals 21.54%
Metals & Mining 4.57%
Road & Rail 4.52%
Independent Power and Renewable Electricity Producers 3.12%
Electrical Equipment 2.92%
Electric Utilities 2.85%
Food Products 2.00%
Cash and net other assets 1.95%
 
Other
5.33%
Containers & Packaging 1.26%
Energy Equipment & Services 1.10%
Machinery 1.08%
Gas Utilities 0.96%
Trading Companies & Distributors 0.93%

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 09/30/18

United States 68.31%
United Kingdom 16.38%
France 6.06%
Canada 5.22%
Cash and net other assets 1.95%
Japan 1.08%
China 0.96%
Netherlands 0.04%

Expenses

Expense ratio

Class A Class B Class C Class M Class R Class Y
Total expense ratio 1.29% 2.04% 2.04% 1.79% 1.54% 1.04%
What you pay 1.29% 2.04% 2.04% 1.79% 1.54% 1.04%

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. 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 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 Energy & Materials Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets in the energy and materials 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 energy and other natural resources industries may be affected by changes in crude oil prices and changes in governmental regulatory policies. 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. Stock prices may fall or fail to rise over time for several reasons, including general financial market conditions, changing market perceptions, changes in government intervention in the financial markets, and factors related to a specific issuer or industry. 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.