Active Sustainability
Sustainable Future Fund (Class Y) (PMVYX)
Investing in growing companies solving sustainability challenges
Highlights
Objective
The fund seeks long-term capital appreciation.
Strategy and process
- Impact companies: The fund invests in growth companies that directly demonstrate positive impact in social, environmental, or economic development.
- Active strategy: The managers utilize bottom-up research to identify companies with attractive sustainability, fundamental, and valuation characteristics.
- Veteran team: A dedicated sustainable investing team is backed by Putnam's equity research and quantitative/risk analysis groups.
Fund price |
Yesterday’s close | 52-week high | 52-week low |
|---|---|---|---|
| Net asset value |
$17.35
0.52% | $0.09 |
$20.76
11/07/18 |
$13.49
12/24/18 |
Fund facts as of 09/30/19
$396.49M
31%
Annually
62
April
746802198 / 1856
04/02/02
Growth
PMVYX
Management team
Manager commentary | Q2 2019
Getting to the core of the data privacy issue
Katherine Collins, Head of Sustainable Investing, highlights the real issue behind data privacy.
Literature
Fund documents |
| Prospectuses/SAI |
| Fact Sheet (R6 share) (PDF) |
| Fact Sheet (Y share) (PDF) |
| Annual Fund Report (PDF) |
| Semiannual Fund Report (PDF) |
| Quarterly Commentary (PDF) |
Engaging with allies to advance sustainable investing
We collaborate with institutions to examine and understand the financial impacts of sustainability.Talking sustainability with CEOs
We have ongoing dialogue with the management teams of companies in which we invest, across a wide range of sustainability-related topics.Sustainability analysis enhances research
An intense focus on sustainability has the potential to deliver strong returns to investors while also benefiting communities and the environment.Performance
Consistency of positive performance over five years
Performance shown above 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 see below.
26.06%
Best 5-year annualized return
(for period ending 03/31/14)
-5.20%
Worst 5-year annualized return
(for period ending 03/31/09)
9.47%
Average 5-year annualized return
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 | 1.36% | 8.82% | 7.48% | 11.72% |
| After sales charge | N/A | N/A | N/A | N/A |
| Russell Midcap Growth Index | 5.20% | 14.50% | 11.12% | 14.08% |
| Russell 3000V-Russell MidcapG Linked Benchmark | 5.20% | 10.85% | 8.71% | 11.85% |
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, 4.00% and 3.25% for income funds and 2.25% and 0.75% for 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, which is 3% in the first year, declining to 1% in the fourth 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). 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 and M shares of Putnam money market funds have no initial sales charge. For a portion of the periods, some funds had expense 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 09/30/19 | -1.15% | - | |
| YTD as of 10/21/19 | 20.32% | - | |
Risk-adjusted performance as of 09/30/19
| Alpha (3 yrs.) | -1.01 |
|---|---|
| Sharpe ratio (3 yrs.) | 0.55 |
| Treynor ratio (3 yrs.) | 8.24 |
| Information ratio (3 yrs.) | -0.56 |
Volatility as of 09/30/19
| Standard deviation (3 yrs.) | 13.24% |
|---|---|
| Beta | 0.89 |
| R-squared | 0.94 |
Capture ratio as of 09/30/19
| Up-market (3 yrs.) | 90.53 |
|---|---|
| Down-market (3 yrs.) | 97.31 |
Lipper rankings as of 09/30/19
| Time period | Rank/Funds in category | Percentile ranking |
|---|---|---|
| 1 yr. | 271/566 | 48% |
| 3 yrs. | 476/508 | 94% |
| 5 yrs. | 384/450 | 86% |
| 10 yrs. | 244/321 | 76% |
Morningstar Ratings™ as of 09/30/19
| Time period | Funds in category | Morningstar Rating™ |
|---|---|---|
| Overall | 1243 | |
| 3 yrs. | 1243 | |
| 5 yrs. | 1110 | |
| 10 yrs. | 822 |
Distributions
| Record/Ex dividend date | 12/06/18 |
|---|---|
| Payable date | 12/10/18 |
| Income | $0.265 |
| Extra income | -- |
| Short-term cap. gain | $0.086 |
| Long-term cap. gain | $4.166 |
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.
Holdings
Top 10 holdings as of 09/30/19
| Salesforce.Com | 4.01% |
|---|---|
| Danaher Corp | 3.76% |
| Mccormick Md | 3.42% |
| Mastercard | 3.38% |
| Chipotle Mexican Grill | 3.14% |
| Vail Resorts | 3.02% |
| Unilever | 2.92% |
| Adobe | 2.54% |
| Novozymes A/S - B Shares | 2.44% |
| BD Medical | 2.43% |
| Top 10 holdings, percent of portfolio | 31.06% |
Full portfolio holdings as of 09/30/19
| SALESFORCE.COM INC SEDOL 2310525 | 4.01% |
|---|---|
| DANAHER CORP SEDOL 2250870 | 3.76% |
| MCCORMICK & CO-NON VTG SHRS SEDOL 2550161 | 3.42% |
| MASTERCARD INC - A SEDOL B121557 | 3.38% |
| CHIPOTLE MEXICAN GRILL INC SEDOL B0X7DZ3 | 3.14% |
| VAIL RESORTS INC SEDOL 2954194 | 3.02% |
| UNILEVER PLC SEDOL B10RZP7 | 2.92% |
| ADOBE INC SEDOL 2008154 | 2.54% |
| NOVOZYMES A/S-B SHARES SEDOL B798FW0 | 2.44% |
| BECTON DICKINSON AND CO SEDOL 2087807 | 2.43% |
| EDWARDS LIFESCIENCES CORP SEDOL 2567116 | 2.27% |
| DOCUSIGN INC SEDOL BFYT7B7 | 2.22% |
| WEBSTER FINANCIAL CORP SEDOL 2945143 | 2.20% |
| TELADOC HEALTH INC SEDOL BYQRFY1 | 2.16% |
| FIRST REPUBLIC BANK/CA SEDOL B4WHY15 | 2.16% |
| NXP SEMICONDUCTORS NV SEDOL B505PN7 | 2.15% |
| THERMO FISHER SCIENTIFIC INC SEDOL 2886907 | 2.06% |
| ALPHABET INC-CL A SEDOL BYVY8G0 | 2.03% |
| VERTEX PHARMACEUTICALS INC SEDOL 2931034 | 1.96% |
| ADIDAS AG SEDOL 4031976 | 1.90% |
| BALL CORP SEDOL 2073022 | 1.88% |
| BLACKROCK INC SEDOL 2494504 | 1.87% |
| NEXTERA ENERGY INC SEDOL 2328915 | 1.73% |
| ON SEMICONDUCTOR CORP SEDOL 2583576 | 1.60% |
| GODADDY INC - CLASS A SEDOL BWFRFC6 | 1.57% |
| SUNRUN INC SEDOL BYXB1Y8 | 1.53% |
| KONINKLIJKE DSM NV SEDOL B0HZL93 | 1.53% |
| EVERBRIDGE INC SEDOL BYY5ZB4 | 1.48% |
| TREX COMPANY INC SEDOL 2483074 | 1.40% |
| MSCI INC SEDOL B2972D2 | 1.39% |
| PINTEREST INC- CLASS A SEDOL BJ2Z0H2 | 1.36% |
| INTERFACE INC SEDOL B86V808 | 1.30% |
| FIRST SOLAR INC SEDOL B1HMF22 | 1.24% |
| NOMAD FOODS LTD SEDOL BQFJGK5 | 1.23% |
| EURAZEO SE SEDOL 7042395 | 1.22% |
| HEALTHEQUITY INC SEDOL BP8XZL1 | 1.18% |
| TALEND SA - ADR SEDOL BD39HN6 | 1.18% |
| PENUMBRA INC SEDOL BZ0V201 | 1.17% |
| BIO-RAD LABORATORIES-A SEDOL 2098508 | 1.17% |
| SIMPLY GOOD FOODS CO/THE SEDOL BF27XF9 | 1.12% |
| PLANET FITNESS INC - CL A SEDOL BYSFJV8 | 1.02% |
| CHR HANSEN HOLDING A/S SEDOL B573M11 | 0.98% |
| PVH CORP SEDOL B3V9F12 | 0.97% |
| APPLIED MATERIALS INC SEDOL 2046552 | 0.96% |
| UNITED RENTALS INC SEDOL 2134781 | 0.93% |
| BANDWIDTH INC-CLASS A SEDOL BD3FZ18 | 0.92% |
| LYFT INC-A SEDOL BJT1RW7 | 0.88% |
| ECOLAB INC SEDOL 2304227 | 0.86% |
| CREE INC SEDOL 2232351 | 0.84% |
| FORTIVE CORP SEDOL BYT3MK1 | 0.82% |
| STITCH FIX INC-CLASS A SEDOL BF3FPW3 | 0.82% |
| PLURALSIGHT INC - A SEDOL BFZCT75 | 0.74% |
| MESA LABORATORIES INC SEDOL 2553814 | 0.72% |
| IDEXX LABORATORIES INC SEDOL 2459202 | 0.57% |
| GALAPAGOS NV-SPON ADR SEDOL B292NQ7 | 0.52% |
| TIVITY HEALTH INC SEDOL BD8Q1B8 | 0.47% |
| ASML HOLDING NV-NY REG SHS SEDOL B908F01 | 0.41% |
| LIVONGO HEALTH INC SEDOL BK74NR2 | 0.34% |
| ORCHARD THERAPEUTICS PLC SEDOL BGT3960 | 0.24% |
| JAZZ PHARMACEUTICALS PLC SEDOL B4Q5ZN4 | 0.22% |
| BLUEBIRD BIO INC SEDOL BBFL7S1 | 0.18% |
| CROWDSTRIKE HOLDINGS INC - A SEDOL BJJP138 | 0.15% |
| TREASURY BILL 00.0000 03/12/2020 | 0.03% |
| EUR/USD 12/18/2019 BANKAM | 0.01% |
| EUR/USD 12/18/2019 JPMCB | 0.00% |
| EUR/USD 12/18/2019 SSBT | 0.00% |
| EUR/USD 12/18/2019 UBS | 0.00% |
| GBP/USD 12/18/2019 BANKAM | 0.00% |
| GBP/USD 12/18/2019 BCAP-FX | -0.01% |
Prior top 10 holdings
| Top 10 holdings as of 09/30/19 | |
|---|---|
| Salesforce.Com | |
| Danaher Corp | |
| Mccormick Md | |
| Mastercard | |
| Chipotle Mexican Grill | |
| Vail Resorts | |
| Unilever | |
| Adobe | |
| Novozymes A/S - B Shares | |
| BD Medical | |
| Holdings represent 31.06% of portfolio | |
| Top 10 holdings as of 08/31/19 | |
|---|---|
| Danaher Corp | |
| Salesforce.Com | |
| Mccormick Md | |
| Mastercard | |
| Vail Resorts | |
| Chipotle Mexican Grill | |
| Unilever | |
| Adobe | |
| Everbridge | |
| Novozymes A/S - B Shares | |
| Holdings represent 32.80% of portfolio | |
| Top 10 holdings as of 07/31/19 | |
|---|---|
| Danaher Corp | |
| Salesforce.Com | |
| Mccormick Md | |
| Vail Resorts | |
| Mastercard | |
| Everbridge | |
| Novozymes A/S - B Shares | |
| Penumbra | |
| Adobe | |
| Chipotle Mexican Grill | |
| Holdings represent 33.41% of portfolio | |
| Top 10 holdings as of 06/30/19 | |
|---|---|
| Danaher Corp | |
| Salesforce.Com | |
| Mccormick Md | |
| Mastercard | |
| Novozymes A/S - B Shares | |
| Vail Resorts | |
| Adobe | |
| Penumbra | |
| Unilever | |
| Everbridge | |
| Holdings represent 33.00% of portfolio | |
Portfolio composition as of 09/30/19
| Common stock | 94.86% |
|---|---|
| Cash and net other assets | 5.14% |
Equity statistics as of 09/30/19
| Median market cap | $11.05B |
|---|---|
| Weighted average market cap | $65.47B |
| Price to book | 4.17 |
| Price to earnings | 27.86 |
Fund characteristics will vary over time.
Due to rounding, percentages may not equal 100%.
Consider these risks before investing: 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. Growth stocks may be more susceptible to earnings disappointments, technological obsolescence, falling prices and profits, and the market may not favor growth-style investing. Investments in small and midsize companies increase the risk of greater price fluctuations. International investing involves currency, economic, and political risks. Emerging-market securities have illiquidity and volatility risks. The fund's sustainable and environmental, social, and/or corporate governance (ESG) investment strategy may cause the fund to forego otherwise attractive investment opportunities or may increase or decrease the fund’s exposure to certain types of companies and, therefore, to underperform funds that do not invest with a similar focus. From time to time, the fund may invest a significant portion of its assets in companies in one or more related industries or sectors, which would make the fund more vulnerable to adverse developments affecting those industries or sectors. In evaluating an investment opportunity, we may make investment decisions based on information and data that is incomplete or inaccurate. Due to changes in the products or services of the companies in which the fund invests, the fund may temporarily hold securities that are inconsistent with its sustainable investment criteria. You can lose money by investing in the fund.
Top industry sectors as of 09/30/19
| Information technology | 24.45% |
|---|---|
| Health care | 21.41% |
| Consumer discretionary | 10.87% |
| Financials | 8.84% |
| Consumer staples | 8.69% |
| Materials | 7.69% |
| Industrials | 6.86% |
| Cash and net other assets | 5.14% |
| Communication services | 4.32% |
| Other | 1.73% |
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 09/30/19
| United States | 81.47% |
|---|---|
| Cash and net other assets | 5.14% |
| United Kingdom | 4.39% |
| Denmark | 3.42% |
| Netherlands | 1.94% |
| Germany | 1.90% |
| France | 1.22% |
| Belgium | 0.52% |
0
Expenses
Expense ratio |
Class A | Class B | Class C | Class M | Class R | Class R6 | Class Y |
|---|---|---|---|---|---|---|---|
| Total expense ratio | 1.09% | 1.84% | 1.84% | 1.59% | 1.34% | 0.70% | 0.84% |
| What you pay | 1.09% | 1.84% | 1.84% | 1.59% | 1.34% | 0.70% | 0.84% |
Sales charge
| Investment Breakpoint | Class A | Class B | Class C | Class M | Class R | Class R6 | Class Y |
|---|---|---|---|---|---|---|---|
| $0-$49,999 | 5.75% | 0.00% | 0.00% | 3.50% | -- | -- | -- |
| $50,000-$99,999 | 4.50% | 0.00% | 0.00% | 2.50% | -- | -- | -- |
| $100,000-$249,999 | 3.50% | -- | 0.00% | 1.50% | -- | -- | -- |
| $250,000-$499,999 | 2.50% | -- | 0.00% | 1.00% | -- | -- | -- |
| $500,000-$999,999 | 2.00% | -- | 0.00% | 1.00% | -- | -- | -- |
| $1M-$4M | 0.00% | -- | -- | -- | -- | -- | -- |
| $4M-$50M | 0.00% | -- | -- | -- | -- | -- | -- |
| $50M+ | 0.00% | -- | -- | -- | -- | -- | -- |
CDSC
| Class A (sales for $1,000,000+) | Class B | Class C | Class M | 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% | 0.00% | -- | -- | -- | -- |
| 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% | -- | -- | -- | -- |
The Russell Midcap Growth Index is an unmanaged index of those companies in the Russell Midcap Index chosen for their growth orientation. The Russell 3000 Value Index is an unmanaged index of those companies in the broad-market Russell 3000 Index chosen for their value orientation. The Russell 3000 Value - Russell Midcap Growth Linked Benchmark represents performance of the Russell 3000 Value Index through March 20, 2018 and performance of the Russell Midcap Growth Index thereafter. You cannot invest directly in an index.
Consider these risks before investing: 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. Growth stocks may be more susceptible to earnings disappointments, technological obsolescence, falling prices and profits, and the market may not favor growth-style investing. Investments in small and midsize companies increase the risk of greater price fluctuations. International investing involves currency, economic, and political risks. Emerging-market securities have illiquidity and volatility risks. The fund's sustainable and environmental, social, and/or corporate governance (ESG) investment strategy may cause the fund to forego otherwise attractive investment opportunities or may increase or decrease the fund’s exposure to certain types of companies and, therefore, to underperform funds that do not invest with a similar focus. From time to time, the fund may invest a significant portion of its assets in companies in one or more related industries or sectors, which would make the fund more vulnerable to adverse developments affecting those industries or sectors. In evaluating an investment opportunity, we may make investment decisions based on information and data that is incomplete or inaccurate. Due to changes in the products or services of the companies in which the fund invests, the fund may temporarily hold securities that are inconsistent with its sustainable investment criteria. You can lose money by investing in the fund.