Investors Fund  (PINVX)

Seeking great companies for investors since 1925

Objective

The fund seeks long-term growth of capital and any increased income that results from this growth.

Fund price

Yesterday’s close 52-week high 52-week low
Net asset value $27.32
0.52% | $0.14
$27.32
10/20/17
$21.52
11/04/16
Historical fund price

Fund facts as of 09/30/17

Total net assets
$1,967.64M
Turnover (fiscal year end)
52%
Dividend frequency
Annually
Number of holdings
146
Fiscal year end
July
CUSIP / Fund code
746809102 / 0001
Inception Date
12/01/25
Category
Blend
Open to new investors
Ticker
PINVX

Management team


Portfolio Manager

Strategy and process

  • Style flexibility: The fund invests in stocks of large U.S. companies, with the flexibility to own both growth and value stocks.
  • A disciplined process: The portfolio manager uses a disciplined bottom-up fundamental investment process that focuses on three buckets of idea generation.
  • Research focus: Backed by an Equity Research team, the portfolio manager uses his stock-picking expertise to identify opportunities and manage risk.

Literature


Longevity and medical costs – education for the great unknowns
Understanding the impact of longevity and medical costs on savings requires education and a proactive approach to saving.
Why a meaningful near-term market correction is unlikely
2017 is a rare year without a stock market correction of at least 5%, but that doesn't make a correction more likely in the fourth quarter.
How the Japan election may influence global interest rates
The Japan election could have consequences for the future leadership of the Bank of Japan and the country's impact on global interest rate trends.

Performance

Consistency of positive performance over five years

Performance represents 5-year returns in rolling quarter-end periods since inception.

Performance shown above does not reflect the effects of any sales charges. Note that returns of 0.00% are counted as positive periods. For complete fund performance, please see below.

31.69%

Best 5-year annualized return

(for period ending 12/31/99)


-20.71%

Worst 5-year annualized return

(for period ending 09/30/34)


9.33%

Average 5-year annualized return


  • Total return (%) as of 09/30/17

  • Annual performance as of 09/30/17

Annualized performance 1 yr. 3 yrs. 5 yrs. 10 yrs.
Before sales charge 22.05% 9.13% 13.98% 6.41%
After sales charge 15.03% 7.00% 12.64% 5.79%
S&P 500 Index 18.61% 10.81% 14.22% 7.44%

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. Recent performance benefited from a settlement from Household International, a unit of HSBC Holdings Plc. 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 09/30/17 2.89 % -3.03 %
YTD as of 10/19/17 16.40 % 9.71 %

Risk-adjusted performance as of 09/30/17

Alpha (3 yrs.) -2.27
Sharpe ratio (3 yrs.) 0.83
Treynor ratio (3 yrs.) 8.40
Information ratio (3 yrs.) -0.74

Volatility as of 09/30/17

Standard deviation (3 yrs.) 10.71%
Beta 1.06
R-squared 0.96

Capture ratio as of 09/30/17

Up-market (3 yrs.) 98.13
Down-market (3 yrs.) 114.64

Lipper rankings as of 09/30/17

Large-Cap Core Funds Percentile ranking Rank/Funds in category
1 yr. 8% 62/790
3 yrs. 57% 405/713
5 yrs. 24% 150/640
10 yrs. 55% 268/492

Morningstar ratings as of 09/30/17

Large Blend Rating Funds in category
Overall (477)
3 yrs. (1218)
5 yrs. (1083)
10 yrs. (342)

Distributions

Record/Ex dividend date 12/07/16
Payable date 12/09/16
Income $0.239
Extra income $0.0
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 Industry Sectors as of 09/30/17

Information technology 24.37%
Financials 17.61%
Health care 13.41%
Consumer discretionary 13.04%
Industrials 8.46%
Consumer staples 7.01%
Energy 6.09%
Materials 2.72%
Utilities 2.00%
 
Other
5.29%
Real estate 1.90%
Cash and net other assets 1.72%
Telecommunication services 1.67%

The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.

Sectors will vary over time. Represents the equity portion of the portfolio.

Top 10 holdings as of 09/30/17

Microsoft Corp 3.96%
Apple 3.95%
JPMorgan Chase 3.42%
Alphabet 2.70%
Bank Of America Corp 2.16%
Citigroup 1.87%
Johnson & Johnson 1.67%
Cisco Systems 1.64%
Goldman Sachs Group The 1.63%
Facebook 1.59%
Top 10 holdings, percent of portfolio 24.59%

Full portfolio holdings as of 06/30/17

APPLE INC 3.90%
MICROSOFT CORP 3.82%
JPMORGAN CHASE & CO 3.41%
ALPHABET INC-CL C 2.45%
JOHNSON & JOHNSON 2.18%
BANK OF AMERICA CORP 2.10%
CITIGROUP INC 1.79%
COMCAST CORP-CLASS A 1.61%
CISCO SYSTEMS INC 1.59%
GOLDMAN SACHS GROUP INC 1.54%
PEPSICO INC 1.53%
WALGREENS BOOTS ALLIANCE INC 1.46%
AMGEN INC 1.40%
WAL-MART STORES INC 1.28%
AT&T INC 1.25%
FACEBOOK INC-A 1.21%
AMAZON.COM INC 1.19%
HOME DEPOT INC 1.12%
BECTON DICKINSON AND CO 1.04%
BOEING CO/THE 1.00%
ROYAL DUTCH SHELL-SPON ADR-A 1.00%
MORGAN STANLEY 0.98%
SOUTHWEST AIRLINES CO 0.97%
ALPHABET INC-CL A 0.95%
PFIZER INC 0.93%
MERCK & CO. INC. 0.88%
ORACLE CORP 0.84%
CELGENE CORP 0.83%
BAXTER INTERNATIONAL INC 0.81%
MCKESSON CORP 0.81%
CONOCOPHILLIPS 0.79%
APPLIED MATERIALS INC 0.78%
DXC TECHNOLOGY CO 0.78%
HONEYWELL INTERNATIONAL INC 0.78%
INTEL CORP 0.78%
DR PEPPER SNAPPLE GROUP INC 0.74%
EXXON MOBIL CORP 0.74%
LAM RESEARCH CORP 0.73%
QUALCOMM INC 0.73%
CAPITAL ONE FINANCIAL CORP 0.71%
NORFOLK SOUTHERN CORP 0.71%
LOWES COMPANIES INC 0.70%
NORTHROP GRUMMAN CORP 0.70%
CVS HEALTH CORP 0.67%
GILEAD SCIENCES INC 0.67%
INTL BUSINESS MACHINES CORP 0.67%
REGIONS FINANCIAL CORP 0.67%
BEST BUY CO INC 0.65%
PULTEGROUP INC 0.65%
HUMANA INC 0.63%
INGERSOLL-RAND PLC 0.63%
ANTHEM INC 0.62%
MASTERCARD INC - A 0.62%
T-MOBILE US INC 0.61%
DELL TECHNOLOGIES INC-CL V 0.60%
EASTERLY GOVERNMENT PROPERTI 0.60%
HCA HEALTHCARE INC 0.60%
TEXAS INSTRUMENTS INC 0.60%
CATERPILLAR INC 0.59%
LIVE NATION ENTERTAINMENT IN 0.59%
STATE STREET CORP 0.59%
AMERIPRISE FINANCIAL INC 0.58%
CBS CORP-CLASS B NON VOTING 0.58%
ROCKWELL AUTOMATION INC 0.57%
COCA-COLA CO/THE 0.56%
LINCOLN NATIONAL CORP 0.56%
ENTERPRISE PRODUCTS PARTNERS 0.55%
LAS VEGAS SANDS CORP 0.55%
BAKER HUGHES INC 0.54%
BIOGEN INC 0.54%
FREEPORT-MCMORAN INC 0.54%
EXELON CORP 0.53%
JOHNSON CONTROLS INTERNATION 0.53%
CUMMINS INC 0.52%
DOW CHEMICAL CO/THE 0.52%
HANESBRANDS INC 0.52%
LEAR CORP 0.52%
CF INDUSTRIES HOLDINGS INC 0.51%
EXPRESS SCRIPTS HOLDING CO 0.51%
GOODYEAR TIRE & RUBBER CO 0.51%
AMERICAN INTERNATIONAL GROUP 0.50%
VALERO ENERGY CORP 0.50%
WYNDHAM WORLDWIDE CORP 0.50%
DISH NETWORK CORP-A 0.49%
HP INC 0.49%
ENTERGY CORP 0.48%
JAZZ PHARMACEUTICALS PLC 0.48%
BIOVERATIV INC 0.47%
CF CORP FORWARD PURCHASE P/P 144A 0.47%
PRUDENTIAL FINANCIAL INC 0.46%
TARGET CORP 0.46%
KKR & CO LP 0.45%
NRG ENERGY INC 0.45%
SYNCHRONY FINANCIAL 0.44%
ARMADA HOFFLER PROPERTIES IN 0.43%
ASSURED GUARANTY LTD 0.43%
DANAHER CORP 0.43%
ROSS STORES INC 0.42%
SUNCOR ENERGY INC 0.41%
UNITED RENTALS INC 0.41%
HARTFORD FINANCIAL SVCS GRP 0.40%
HEWLETT PACKARD ENTERPRIS 0.40%
CBRE GROUP INC - A 0.39%
EASTERLY ACQUISITION CORP 0.39%
KRAFT HEINZ CO/THE 0.39%
TPG PACE HOLDINGS CORP 0.37%
UNITED CONTINENTAL HOLDINGS 0.37%
DELIVERY HERO AG 0.36%
E*TRADE FINANCIAL CORPORATION 0.36%
ALBEMARLE CORP 0.35%
DU PONT (E.I.) DE NEMOURS 0.34%
THE EURO EUR CALL ACCOUNT 0.33%
MANPOWERGROUP INC 0.32%
REYNOLDS AMERICAN INC 0.32%
ALCOA CORP 0.30%
MARATHON OIL CORP 0.30%
ALIBABA GROUP HOLDING-SP ADR 0.29%
KENNEDY-WILSON HOLDINGS INC 0.29%
PENN NATIONAL GAMING INC 0.29%
EDISON INTERNATIONAL 0.28%
GAP INC/THE 0.28%
XEROX CORP 0.28%
AMERICAN AIRLINES GROUP INC 0.27%
HANNON ARMSTRONG SUSTAINABLE 0.26%
EOG RESOURCES INC 0.25%
INVESCO LTD 0.25%
KOMATSU LTD 0.25%
PLAINS GP HOLDINGS LP-CL A 0.25%
PLAYA HOTELS & RESORTS NV 0.25%
SELECT ENERGY SVCS 0.25%
AMERICAN TOWER CORP 05.5000 CV PFD 0.24%
KIMBELL ROYALTY PARTNERS LP 0.24%
UGI CORP 0.24%
CHARTER COMMUNICATIONS INC-A 0.23%
ALIGNVEST ACQUISITION II COR 0.21%
DEL TACO RESTAURANTS INC 0.21%
EXPEDIA INC 0.21%
STERICYCLE INC 0.21%
NCR CORPORATION 0.19%
BECTON DICKINSON AND CO 06.1250 CV PFD 0.18%
IRIDIUM COMMUNICATIONS I 07.0000 CV PFD 0.18%
CONDUENT INC 0.17%
DISH NETWORK P/P 144A CV 03.3750 08/15/2026 0.17%
FORTERRA INC 0.17%
HYATT HOTELS CORP - CL A 0.15%
GORES HOLDINGS II INC 0.12%
NEW HOME CO INC/THE 0.12%
CAPITOL ACQUISITION CORP III 0.11%
EASTERLY ACQ CORP - CW20 0.02%
GLOBAL FASHION GRP P/P 0.02%
FABFURNISH GMBH P/P 0.00%
NEW BIGFOOT OTHER AS P/P 0.00%
NEW MIDDLE EAST OTHE P/P 0.00%
POUND STERLING CALL ACCOUNT 0.00%

Prior top 10 holdings

Top 10 holdings as of 09/30/17
Microsoft Corp
Apple
JPMorgan Chase
Alphabet
Bank Of America Corp
Citigroup
Johnson & Johnson
Cisco Systems
Goldman Sachs Group The
Facebook
Holdings represent 24.59% of portfolio
Top 10 holdings as of 08/31/17
Apple
Microsoft Corp
JPMorgan Chase
Alphabet
Bank Of America Corp
Johnson & Johnson
Citigroup
Comcast Corp
Facebook
Cisco Systems
Holdings represent 25.11% of portfolio
Top 10 holdings as of 07/31/17
Apple
Microsoft
Alphabet
JPMorgan Chase
Johnson & Johnson
Bank of America
Citigroup
Comcast
Goldman Sachs Group The
Cisco Systems
Holdings represent 25.46% of portfolio
Top 10 holdings as of 06/30/17
Apple
Microsoft Corp
JPMorgan Chase
Alphabet
Johnson Johnson
Bank Of America Corp
Citigroup
Comcast Corp
Cisco Systems
Goldman Sachs Group The
Holdings represent 25.34% of portfolio

Portfolio composition as of 09/30/17

Common stock 97.87%
Cash and net other assets 1.72%
Convertible preferred stock 0.41%

Equity statistics as of 09/30/17

Median market cap $33.51B
Weighted average market cap $175.86B
Price to book 2.77
Price to earnings 16.18

Fund characteristics will vary over time.

Due to rounding, percentages may not equal 100%.

Consider these risks before investing: 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 general financial market conditions and factors related to a specific company or industry. You can lose money by investing in the fund.


Expenses

Expense ratio

Class A Class B Class C Class M Class R Class R6 Class Y
Total expense ratio 1.05% 1.80% 1.80% 1.55% 1.30% 0.65% 0.80%
What you pay 1.05% 1.80% 1.80% 1.55% 1.30% 0.65% 0.80%

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 S&P 500 Index is an unmanaged index of common stock performance. You cannot invest directly in an index.

Consider these risks before investing: 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 general financial market conditions and factors related to a specific company or industry. You can lose money by investing in the fund.