Putting durable growth themes to workA thematic approach is a distinctive feature of Putnam Growth Opportunities Fund. The team analyzes global trends, as well as problems and potential solutions, to identify which themes could drive sustained growth for businesses over a multi-year time horizon.
THEME: E-commerce and payment processingPeer-to-peer electronic money transfers have rapidly become much more common and accepted. E-commerce transactions and one-button checkout are taking share from cash and physical card payments. The U.S. e-commerce market has grown at 16% annually since 2001, well ahead of aggregate retail sales during the same time period.
As of the end of 2018, there were more than 80 million mobile phone peer-to-peer payment users in the United States, according to market research firm eMarketer.
STOCK: PayPal Holdings (PYPL)PayPal enables businesses and individuals to electronically transfer money and has benefited from the rapid adoption of digital payments.
- PayPal has experienced consistent, mid-teens year-over-year growth in active accounts. We are optimistic about the potential to monetize Venmo, the company’s app that provides peer-to-peer payments.
- User growth for Venmo has been strong, especially among younger users who appreciate the ability to send cash quickly between friends.
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See how investing in companies with durable long-term growth prospects, high and/or improving capital returns, and a strong ownership culture drives 5-star performance as of 5/31/2020.
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Learn more about the distinctive thematic approach and how the team analyzes global trends to identify which themes could drive sustained growth for Putnam Growth Opportunities Fund.
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