International Capital Opportunities Fund (PIVYX)
Harnessing the potential of international small and midsize companies since 1995
Joseph P. Joseph,
pictured.
with Randy J.
Farina, CFA
Summary
Fund price |
Yesterday's close | 52-week high | 52-week low |
|---|---|---|---|
| Net asset value |
$40.90
-0.42% ( $-0.17 ) |
$41.07
(03/06/14) |
$33.32
(06/24/13) |
Management team
- Joseph P. Joseph (Investing since 1987)
- Randy J. Farina, CFA® (Investing since 1995)
- John McLanahan, CFA® (Investing since 1996)
Harnessing the potential of international small and midsize companies since 1995
- Undiscovered stocks: In international markets, fewer analysts cover small and midsize companies, giving the fund's portfolio managers more opportunities to identify stocks priced below their true worth.
- A flexible strategy: Pursuing Putnam's blend strategy, the fund can own growth- or value-style stocks to participate when either style leads international markets.
- Building competitive portfolios: The portfolio managers use fundamental research as the cornerstone of the investment process. This research is supported by quantitative tools and macroeconomic analysis.
Fund manager commentary
Finding value in an improving Europe
Portfolio Managers Joe Joseph and Randy Farina discuss where they are finding opportunities as Europe gradually recovers from recession.
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, T, 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 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 T 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.
Objective
The fund seeks long-term capital appreciation.
Fund facts as of 02/28/14
| Fiscal year end | August |
|---|---|
| Asset Class | Blend |
| Inception date | 02/01/00 |
| Total net assets | $879.91M |
| Dividend frequency | Annually |
| Number of holdings | 163 |
| Open to new investors | |
| CUSIP | 746802495 |
| Fund code | 1850 |
| Turnover (fiscal year end) | 48% |
| Ticker | PIVYX |
Literature
- Prospectuses/SAI
- Fact Sheet (PDF)
- Annual Fund Report (PDF)
- Semiannual Fund Report (PDF)
- Equity Outlook (PDF)
The S&P Developed Ex-U.S. SmallCap Index is an unmanaged index of small-cap stocks from developed countries, excluding the United States. Indexes assume reinvestment of all distributions and do not account for fees. Securities in the fund do not match those in the indexes and performance of the fund will differ. It is not possible to 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. 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 both general financial market conditions and factors related to a specific issuer or industry. 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. You can lose money by investing in the fund.
You can lose money by investing in a fund. Any given fund may not achieve its goal, and is not intended as a complete investment program. All funds have risk. The value and/or returns of a portfolio will fluctuate with market conditions. You may have more or less than the original amount invested when you redeem your shares.