Global Equity Fund  (PEQUX)

Selecting companies around the world that are attractive for investors

Objective

The fund seeks capital appreciation.

Strategy and process

  • Global companies: The fund seeks to capitalize on opportunities across global regions and market-cap sizes.
  • A flexible strategy: Pursuing Putnam's blend strategy, the fund can own growth- or value-style stocks to participate when either style leads global markets.
  • A disciplined process: The fund manager combines fundamental research and quantitative tools to pursue multiple sources of return, supported by strong risk controls in portfolio construction.

Fund price

Yesterday’s close 52-week high 52-week low
Net asset value $16.00
0.00% | $0.00
$16.80
01/26/18
$12.94
03/08/17
Historical fund price

Fund facts as of 01/31/18

Total net assets
$887.71M
Turnover (fiscal year end)
220%
Dividend frequency
Annually
Number of holdings
107
Fiscal year-end
October
CUSIP / Fund code
746772102 / 0044
Inception date
07/01/94
Category
Blend
Open to new investors
Ticker
PEQUX

Management team

Co-Head of Equities

Literature


Just how cheap are European equities?
Our analysis finds that industry group weightings play a significant role in valuation discrepancies between U.S. and European equities.
Proceeding toward Brexit: The risks for investors
With the United Kingdom beginning to move forward with Brexit, we see risks to the economy, the pound, and the markets.
New horizon for corporate governance
Pressure on the boards of Japanese companies to increase the return on equity for shareholders is changing the outlook for investing in Japan.

Performance

  • Total return (%) as of 12/31/17

  • Annual performance as of 12/31/17

Annualized performance 1 yr. 3 yrs. 5 yrs. 10 yrs.
Before sales charge 28.08% 8.27% 11.14% 4.15%
After sales charge 20.72% 6.16% 9.83% 3.54%
MSCI World Index (ND) 22.40% 9.26% 11.64% 5.03%

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 01/31/18 4.70 % -1.32 %
YTD as of 02/16/18 1.59 % -4.25 %

Risk-adjusted performance as of 01/31/18

Alpha (3 yrs.) -1.15
Sharpe ratio (3 yrs.) 0.94
Treynor ratio (3 yrs.) 10.25
Information ratio (3 yrs.) -0.51

Volatility as of 01/31/18

Standard deviation (3 yrs.) 10.50%
Beta 0.96
R-squared 0.91

Capture ratio as of 01/31/18

Up-market (3 yrs.) 99.57
Down-market (3 yrs.) 115.09

Lipper rankings as of 01/31/18

Global Multi-Cap Core Percentile ranking Rank/Funds in category
1 yr. 23% 42/183
3 yrs. 71% 92/130
5 yrs. 68% 74/108
10 yrs. 63% 34/53

Morningstar ratings as of 01/31/18

World Large Stock Rating Funds in category
Overall (709)
3 yrs. (709)
5 yrs. (583)
10 yrs. (331)

Distributions

Record/Ex dividend date 12/21/17
Payable date 12/26/17
Income $0.055
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.


Holdings

Top 10 holdings as of 01/31/18

Alphabet 3.07%
Unilever Nv 2.09%
Becton Dickinson And 2.06%
Norfolk Southern Corp 1.93%
Amazon.Com 1.86%
Boston Scientific Corp 1.77%
Suncor Energy 1.67%
Bank Of America Corp 1.61%
E*Trade Financial Corp 1.61%
Nrg Energy 1.52%
Top 10 holdings, percent of portfolio 19.19%

Full portfolio holdings as of 12/31/17

ALPHABET INC-CL C 2.92%
UNILEVER NV-CVA 2.16%
NORFOLK SOUTHERN CORP 1.98%
BECTON DICKINSON AND CO 1.93%
SUNCOR ENERGY INC 1.79%
NRG ENERGY INC 1.78%
BOSTON SCIENTIFIC CORP 1.67%
E*TRADE FINANCIAL CORPORATION 1.61%
AMAZON.COM INC 1.59%
BANK OF AMERICA CORP 1.58%
NOMAD FOODS LTD 1.53%
DXC TECHNOLOGY CO 1.40%
YAMAHA MOTOR CO LTD 1.40%
LOWES COMPANIES INC 1.28%
CF INDUSTRIES HOLDINGS INC 1.25%
BAYER AG-REG 1.23%
FAIRFAX FINANCIAL HLDGS LTD 1.22%
ASSURED GUARANTY LTD 1.19%
ALCOA CORP 1.16%
DENTSPLY SIRONA INC 1.16%
SAMSUNG ELECTRONICS CO LTD 1.16%
PIONEER NAT RES CO 1.14%
KYUDENKO CORP 1.13%
EXELON CORP 1.12%
RPC GROUP PLC 1.12%
SEVEN GENERATIONS ENERGY - A 1.12%
CALATLANTIC GROUP INC 1.11%
EURAZEO SA 1.11%
VISA INC-CLASS A SHARES 1.11%
BANK OF IRELAND GROUP PLC 1.09%
NCSOFT CORP 1.06%
ROHM CO LTD 1.05%
COMPASS GROUP PLC 1.03%
PRUDENTIAL PLC 1.03%
ALIBABA GROUP HOLDING-SP ADR 1.02%
INSTRUCTURE INC 1.02%
KINDER MORGAN INC 1.02%
KRAFT HEINZ CO/THE 1.02%
CHALLENGER LTD 1.00%
PIRELLI & C SPA 0.99%
DIAGEO PLC 0.98%
KENNEDY-WILSON HOLDINGS INC 0.98%
MOLSON COORS BREWING CO -B 0.98%
TECHTRONIC INDUSTRIES CO LTD 0.98%
EATON CORP PLC 0.97%
ILUKA RESOURCES LTD 0.97%
VODAFONE GROUP PLC-SP ADR 0.96%
BRUNSWICK CORP 0.95%
RADIAN GROUP INC 0.95%
REALPAGE INC 0.95%
SHISEIDO CO LTD 0.95%
RAYTHEON COMPANY 0.94%
SERVICENOW INC 0.93%
GODADDY INC - CLASS A 0.92%
DALATA HOTEL GROUP PLC 0.91%
DANAHER CORP 0.89%
MICRO FOCUS INTERNATIONAL 0.88%
SUMMIT MATERIALS INC -CL A 0.88%
JOHNSON CONTROLS INTERNATION 0.87%
GRUPO FINANCIERO GALICIA-ADR 0.86%
ASSA ABLOY AB-B 0.85%
HIBERNIA REIT PLC 0.85%
CONOCOPHILLIPS 0.84%
LIVE NATION ENTERTAINMENT IN 0.82%
PALTAC CORPORATION 0.82%
SHERWIN-WILLIAMS CO/THE 0.81%
CHUBB LTD 0.79%
ASSOCIATED BRITISH FOODS PLC 0.78%
KERRY GROUP PLC-A 0.78%
UNIVERSAL ENTERTAINMENT CORP 0.78%
CENOVUS ENERGY INC 0.77%
BALL CORP 0.76%
COMPUGROUP MEDICAL SE 0.76%
HILTON WORLDWIDE HOLDINGS IN 0.75%
EOG RESOURCES INC 0.72%
SONY CORP 0.71%
LOMA NEGRA CIA IND-SPON ADR 0.70%
IRB BRASIL RESSEGUROS SA 0.69%
KION GROUP AG 0.69%
O'REILLY AUTOMOTIVE INC 0.69%
ING GROEP NV-CVA 0.68%
NINTENDO CO LTD 0.66%
VERTEX PHARMACEUTICALS INC 0.64%
ADOBE SYSTEMS INC 0.63%
CHUGAI PHARMACEUTICAL CO LTD 0.63%
SCREEN HOLDINGS CO LTD 0.63%
JAZZ PHARMACEUTICALS PLC 0.62%
L3 TECHNOLOGIES INC 0.62%
DOWDUPONT INC 0.60%
FORTUNE BRANDS HOME & SECURI 0.60%
KONINKLIJKE KPN NV 0.59%
PACIRA PHARMACEUTICALS INC 0.54%
ALKERMES PLC 0.50%
UBER TECH INC P/P CV PFD 0.50%
ASTRAZENECA PLC 0.48%
FACEBOOK INC-A 0.48%
NOVARTIS AG-REG 0.48%
GLOBAL FASHION GRP 0.02%
GLOBAL FASHION GRP P/P 0.02%
KRW/USD 02/22/2018 JPMCB 0.02%
CHF/USD 03/21/2018 JPMCB 0.01%
CNH/USD 02/22/2018 GSFX 0.01%
AUD/USD 01/17/2018 BANKAM 0.00%
AUD/USD 01/17/2018 JPMCB 0.00%
AUD/USD 01/17/2018 SSBT 0.00%
AUD/USD 01/17/2018 UBS 0.00%
AUSTRALIAN DOLLAR ACCOUNT 0.00%
CAD/USD 01/17/2018 BANKAM 0.00%
CAD/USD 01/17/2018 CITI 0.00%
CAD/USD 01/17/2018 GSFX 0.00%
CAD/USD 01/17/2018 WPAC 0.00%
CANADIAN DOLLAR ACCOUNT 0.00%
CHF/USD 03/21/2018 BCAP-FX 0.00%
DKK/USD 03/21/2018 CITI 0.00%
EUR/USD 03/21/2018 BANKAM 0.00%
EUR/USD 03/21/2018 GSFX 0.00%
EUR/USD 03/21/2018 JPMCB 0.00%
FABFURNISH GMBH P/P 0.00%
GBP/USD 03/21/2018 BANKAM 0.00%
GBP/USD 03/21/2018 CITI 0.00%
GBP/USD 03/21/2018 GSFX 0.00%
GBP/USD 03/21/2018 JPMCB 0.00%
GBP/USD 03/21/2018 SSBT 0.00%
HKD/USD 02/22/2018 BANKAM 0.00%
HKD/USD 02/22/2018 BCAP-FX 0.00%
ILS/USD 01/17/2018 SSBT 0.00%
INDIAN RUPEE CALL ACCOUNT 0.00%
JPY/USD 02/22/2018 BANKAM 0.00%
JPY/USD 02/22/2018 BCAP-FX 0.00%
JPY/USD 02/22/2018 CITI 0.00%
JPY/USD 02/22/2018 GSFX 0.00%
JPY/USD 02/22/2018 JPMCB 0.00%
JPY/USD 02/22/2018 SSBT 0.00%
KOREAN WON CALL ACCOUNT 0.00%
NEW BIGFOOT OTHER ASSETS GMBH P/P 0.00%
NEW MIDDLE EAST OTHER ASSETS GMBH P/P 0.00%
NOK/USD 03/21/2018 JPMCB 0.00%
POUND STERLING CALL ACCOUNT 0.00%
SEK/USD 03/21/2018 CITI 0.00%
SEK/USD 03/21/2018 JPMCB 0.00%
SGD/USD 02/22/2018 JPMCB 0.00%
THE EURO EUR CALL ACCOUNT 0.00%

Prior top 10 holdings

Top 10 holdings as of 01/31/18
Alphabet
Unilever Nv
Becton Dickinson And
Norfolk Southern Corp
Amazon.Com
Boston Scientific Corp
Suncor Energy
Bank Of America Corp
E*Trade Financial Corp
Nrg Energy
Holdings represent 19.19% of portfolio
Top 10 holdings as of 12/31/17
Alphabet
Unilever Nv
Norfolk Southern Corp
Becton Dickinson And
Suncor Energy
Nrg Energy
Boston Scientific Corp
E*Trade Financial Corp
Amazon.Com
Bank Of America Corp
Holdings represent 19.01% of portfolio
Top 10 holdings as of 11/30/17
Alphabet
Becton Dickinson And
Unilever Nv
Norfolk Southern Corp
Suncor Energy
Yamaha Motor
Amazon.Com
E*Trade Financial Corp
Bank Of America Corp
Nomad Foods
Holdings represent 17.97% of portfolio
Top 10 holdings as of 10/31/17
Alphabet
Nrg Energy
Yamaha Motor
Becton Dickinson And
Suncor Energy
Norfolk Southern Corp
Unilever Nv
Amazon.Com
Bank Of America Corp
Micron Technology
Holdings represent 19.01% of portfolio

Portfolio composition as of 01/31/18

Common stock 97.24%
Cash and net other assets 2.34%
Convertible preferred stock 0.42%

Equity statistics as of 01/31/18

Median market cap $14.06B
Weighted average market cap $88.58B
Price to book 2.51
Price to earnings 19.52

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. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. 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 01/31/18

Information technology 16.82%
Consumer discretionary 15.17%
Financials 14.93%
Health care 11.63%
Industrials 9.42%
Consumer staples 8.72%
Materials 7.74%
Energy 7.12%
Utilities 2.76%
 
Other
5.69%
Cash and net other assets 2.34%
Real estate 1.89%
Telecommunication services 1.46%

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 01/31/18

United States 54.55%
United Kingdom 8.50%
Japan 7.85%
Canada 4.83%
Netherlands 3.33%
Ireland 3.26%
Germany 2.59%
Cash and net other assets 2.34%
Australia 1.87%
 
Other
10.88%
South Korea 1.59%
Argentina 1.53%
France 1.19%
China 1.14%
Italy 1.03%
India 1.01%
Sweden 0.85%
Brazil 0.74%
Hong Kong 0.69%
Taiwan 0.59%
Switzerland 0.48%
Luxembourg 0.04%

Expenses

Expense ratio

Class A Class B Class C Class M Class R Class R6 Class Y
Total expense ratio 1.17% 1.92% 1.92% 1.67% 1.42% 0.75% 0.92%
What you pay 1.17% 1.92% 1.92% 1.67% 1.42% 0.75% 0.92%

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. 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% -- -- -- --

The MSCI World Index is an unmanaged index of equity securities from developed countries. 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. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. 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.