Always Inspired. Always Active.

Global Technology Fund (Class Y)  (PGTYX)

Pursuing investment opportunities in technology-related companies worldwide

Global Technology Fund received an  Overall Morningstar Rating  of  

Highlights

Objective

The fund seeks capital appreciation.

Strategy and process

  • A dynamic sector: From software and computers to Internet services and storage, the fund invests in industries that can profit from the global demand for technology products and services.
  • A global approach: To seek the best opportunities, the fund's managers have the flexibility to invest in stocks from around the world.
  • Active management: The managers, supported by experienced research analysts, combine rigorous fundamental research with macroeconomic views to pinpoint opportunities across the sector.

Fund price

Yesterday’s close 52-week high 52-week low
Net asset value $33.06
-2.71% | $-0.92
$43.12
07/25/18
$33.06
12/17/18
Historical fund price

Fund facts as of 11/30/18

Total net assets
$390.61M
Turnover (fiscal year end)
93%
Dividend frequency
Annually
Number of holdings
40
Fiscal year-end
August
CUSIP / Fund code
746764521 / 1869
Inception date
12/18/08
Category
Global Sector
Open to new investors
Ticker
PGTYX

Management team

Portfolio Manager, Analyst
Portfolio Manager, Analyst


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.

25.06%

Best 5-year annualized return

(for period ending 06/30/18)


9.91%

Worst 5-year annualized return

(for period ending 09/30/15)


15.64%

Average 5-year annualized return


  • Total return (%) as of 09/30/18

  • Annual performance as of 09/30/18

Annualized Total return (%) as of 09/30/18

Annualized performance 1 yr. 3 yrs. 5 yrs. Life (inception: 12/18/08 )
Before sales charge 22.95% 29.81% 22.61% 19.17%
After sales charge N/A N/A N/A N/A
MSCI World Information Technology Index (ND) 28.19%25.67%19.91%--

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 11/30/18 -1.48% -
YTD as of 12/17/18 -6.05% -

Risk-adjusted performance as of 11/30/18

Alpha (3 yrs.) 2.79
Sharpe ratio (3 yrs.) 1.26
Treynor ratio (3 yrs.) 18.94
Information ratio (3 yrs.) 0.30

Volatility as of 11/30/18

Standard deviation (3 yrs.) 14.04%
Beta 0.93
R-squared 0.84

Capture ratio as of 11/30/18

Up-market (3 yrs.) 100.50
Down-market (3 yrs.) 89.54

Morningstar Ratings as of 11/30/18

Time period Funds in category Morningstar Rating
Overall 182
3 yrs. 182
5 yrs. 174
Morningstar category: Technology

Distributions

Record/Ex dividend date 12/21/17
Payable date 12/26/17
Income --
Extra income --
Short-term cap. gain $1.847
Long-term cap. gain $0.53

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 11/30/18

Microsoft Corp 13.56%
Alphabet 11.39%
Facebook 4.83%
Visa 4.36%
Nxp Semiconductors Nv 3.99%
Okta 3.43%
Charter Communications 2.99%
Sino-American Silicon Products 2.98%
Pagseguro Digital 2.74%
First Data Corp 2.72%
Top 10 holdings, percent of portfolio 52.99%

Full portfolio holdings as of 09/30/18

ALPHABET INC-CL C 10.66%
MICROSOFT CORP 9.01%
FACEBOOK INC-A 5.07%
TALEND SA - ADR 4.42%
VISA INC-CLASS A SHARES 3.97%
OKTA INC 3.04%
NXP SEMICONDUCTORS NV 3.00%
ACTIVISION BLIZZARD INC 2.75%
AMAZON.COM INC 2.73%
QUALCOMM INC 2.70%
CHARTER COMMUNICATIONS INC-A 2.54%
DXC TECHNOLOGY CO 2.50%
GODADDY INC - CLASS A 2.50%
FIRST DATA CORP- CLASS A 2.37%
KYOCERA CORP 2.29%
SINO-AMERICAN SILICON PRODUC 2.13%
PAGSEGURO DIGITAL LTD-CL A 2.05%
REALPAGE INC 2.04%
DISCOVERY INC-C 2.03%
TOSHIBA CORP 2.02%
WORLDPAY INC-CLASS A 1.95%
MICRO FOCUS INTL-SPN ADR 1.89%
TENCENT HOLDINGS LTD 1.87%
YANDEX NV-A 1.75%
SCREEN HOLDINGS CO LTD 1.72%
INTERXION HOLDING NV 1.60%
LOGMEIN INC 1.52%
SHENGYI TECH 144A/REGS WARRANT 05/24/2019 1.47%
SUNNY OPTICAL TECH 1.42%
NCSOFT CORP 1.26%
UNIVERSAL ENTERTAINMENT CORP 1.25%
NETEASE INC-ADR 1.18%
HOME24 SE 1.15%
DELIVERY HERO AG 1.02%
ALIBABA GROUP HOLDING-SP ADR 1.00%
HOYA CORP 1.00%
ALTICE USA INC- A 0.94%
INSTRUCTURE INC 0.93%
FERROTEC HOLDINGS CORP 0.92%
CASETEK HOLDINGS LTD 0.85%
BOTTOMLINE TECHNOLOGIES (DE) 0.63%
SVMK INC 0.40%
TAIWAN DOLLAR CALL ACCOUNT 0.08%
UBER TECH INC P/P CV PFD 0.04%
EUR/USD 12/19/2018 GSFX 0.01%
AUD/USD 10/17/2018 BANKAM 0.00%
CAD/USD 10/17/2018 BANKAM 0.00%
CAD/USD 10/17/2018 GSFX 0.00%
CAD/USD 10/17/2018 SSBT 0.00%
CHF/USD 12/19/2018 BCAP-FX 0.00%
CNH/USD 11/19/2018 GSFX 0.00%
EUR/USD 12/19/2018 BANKAM 0.00%
EUR/USD 12/19/2018 BCAP-FX 0.00%
GBP/USD 12/19/2018 BANKAM 0.00%
HKD/USD 11/19/2018 BCAP-FX 0.00%
HONG KONG DOLLAR CALL ACCOUNT 0.00%
ILS/USD 10/17/2018 SSBT 0.00%
JPY/USD 11/19/2018 JPMCB 0.00%
KOREAN WON CALL ACCOUNT 0.00%
SEK/USD 12/19/2018 CSI-FX 0.00%
SEK/USD 12/19/2018 JPMCB 0.00%
THE EURO EUR CALL ACCOUNT 0.00%
JPY/USD 11/19/2018 CITI -0.01%
JPY/USD 11/19/2018 SSBT -0.02%

Prior top 10 holdings

Top 10 holdings as of 11/30/18
Microsoft Corp
Alphabet
Facebook
Visa
Nxp Semiconductors Nv
Okta
Charter Communications
Sino-American Silicon Products
Pagseguro Digital
First Data Corp
Holdings represent 52.99% of portfolio
Top 10 holdings as of 10/31/18
Alphabet
Microsoft Corp
Facebook
Talend
Visa
Pagseguro Digital
Nxp Semiconductors Nv
Kyocera Corp
Okta
Charter Communications
Holdings represent 48.03% of portfolio
Top 10 holdings as of 09/30/18
Alphabet
Microsoft Corp
Facebook
Talend
Visa
Okta
Nxp Semiconductors Nv
Activision Blizzard
Amazon.Com
Qualcomm
Holdings represent 47.35% of portfolio
Top 10 holdings as of 08/31/18
Alphabet
Microsoft Corp
Facebook
Talend
Visa
Nxp Semiconductors Nv
Amazon.Com
Okta
Qualcomm
First Data Corp
Holdings represent 46.38% of portfolio

Portfolio composition as of 11/30/18

Common stock 97.97%
Preferred stock 1.46%
Cash and net other assets 0.51%
Convertible preferred stock 0.06%

Equity statistics as of 11/30/18

Median market cap $10.67B
Weighted average market cap $262.61B
Price to book 3.53
Price to earnings 18.14

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. The technology industries may be affected by technological obsolescence, short product cycles, falling prices and profits, competitive pressures, and general market conditions. The fund concentrates on a limited group of industries and is non-diversified. Because the fund may invest in fewer issuers than a diversified fund, it is vulnerable to common economic forces and may result in greater losses and volatility. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. The use of short selling may result in losses if the securities appreciate in value. 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 11/30/18

Software 25.14%
IT Services 20.76%
Interactive Media & Services 17.28%
Semiconductors & Semiconductor Equipment 12.83%
Media 5.03%
Internet & Direct Marketing Retail 4.81%
Entertainment 4.54%
Electronic Equipment, Instruments & Components 3.07%
Technology Hardware, Storage & Peripherals 2.43%
 
Other
4.11%
Industrial Conglomerates 1.79%
Leisure Products 1.12%
Professional Services 0.69%
Cash and net other assets 0.51%

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 11/30/18

United States 71.48%
Japan 7.96%
Taiwan 3.95%
South Korea 3.84%
China 3.64%
Netherlands 3.55%
Brazil 2.74%
United Kingdom 1.41%
Germany 0.92%
 
Other
0.51%
Cash and net other assets 0.51%

Expenses

Expense ratio

Class A Class B Class C Class M Class R Class R6 Class Y
Total expense ratio 1.32% 2.07% 2.07% 1.82% 1.57% 0.92% 1.07%
What you pay† 1.28% 2.03% 2.03% 1.78% 1.53% 0.88% 1.03%

† The fund's expense ratio is taken from the most recent prospectus and is subject to change. What you pay reflects Putnam Management's decision to contractually limit expenses through 12/30/18

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 MSCI World Information Technology Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets in the information technology sector. 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. The technology industries may be affected by technological obsolescence, short product cycles, falling prices and profits, competitive pressures, and general market conditions. The fund concentrates on a limited group of industries and is non-diversified. Because the fund may invest in fewer issuers than a diversified fund, it is vulnerable to common economic forces and may result in greater losses and volatility. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. The use of short selling may result in losses if the securities appreciate in value. 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.