January 31, 2009
MSCI World Information Technology Index (ND)
Total strategy assets†
(as of December 2021)
- Separate account
- We believe deep fundamental research focused on catalyst-driven insights allows us to identify opportunities in emerging and established technology companies.
- The strategy focuses on global technology opportunities across the entire cap spectrum; typically, one third of assets are invested in non-U.S. stocks, and over 30% are invested in small- and mid-cap companies.
- The team employs disciplined portfolio construction and risk management tools aimed at delivering alpha by investing in focused portfolios of approximately 25 to 35 high-conviction names.
*No assurance can be given that the investment objective will be achieved or that an investor will receive a return of all or part of his or her initial investment. Actual results could be materially different from the stated goals. Investors should carefully consider the risks involved before deciding to invest. As with any investment, there is a potential for profit as well as the possibility of loss.
†Assets may include accounts that are not reflected in the composite.
Annualized composite performance (%) as of December 31, 2021
|MTD||QTD||1 Year||3 Years||5 Years||10 Years|
|Global Technology (gross)||-1.09%||2.73%||12.48%||42.40%||32.27%||23.98%|
|Global Technology (net)||-1.16%||2.52%||11.57%||41.42%||31.41%||23.11%|
|MSCI World Information Technology Index (ND)||2.60%||13.24%||29.85%||40.18%||29.97%||22.04%|
Calendar-year composite performance (%) as of December 31, 2021
|Global Technology (gross)||12.48%||72.37%||48.92%||-5.60%||48.54%||13.77%||12.06%||14.98%||25.98%||14.75%|
|Global Technology (net)||11.57%||71.25%||48.03%||-6.17%||47.65%||13.08%||11.23%||14.06%||24.97%||13.83%|
|MSCI World Information Technology Index (ND)||29.85%||43.78%||47.55%||-2.60%||38.23%||11.45%||4.76%||16.06%||28.72%||13.30%|
Past performance is not a guarantee of future results. An investment in this strategy could lose value. Most recent month-end performance is preliminary. Returns are subject to change.
Periods less than one year are not annualized. Performance is stated in U.S. dollars and includes the reinvestment of dividends and interest.
The Putnam Investments Global Technology Composite (the “Composite”) seeks capital appreciation by pursuing investment opportunities in technology-related companies worldwide. The strategy is fundamental and has bottom-up, research intensive approach focused on opportunities across technology, media, communications, information services and online payment and processing industries. Accounts in the Composite will invest mainly in common stocks (growth or value stocks or both) of large and midsize companies worldwide (including emerging markets) concentrating in the technology industries. The Composite’s benchmark is the MSCI World Information Technology Index (ND). Leverage is not utilized in any account in this Composite. However, derivatives (including the use of “short” derivatives), such as futures, options, forwards, and swap, may be used for hedging or non-hedging purposes. The Composite includes all fully discretionary accounts managed by Putnam in this investment style, permitting emerging markets investments. The Composite inception date was January 31, 2009. The Composite creation date was February 10, 2009.
The MSCI World Information Technology Index (ND) 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.
Composites may include portfolios with certain existing investment restrictions that the Firm believes do not materially impact the investment strategy. Benchmarks are generally taken from published sources and may have different calculation methodologies, pricing times, and/or foreign-exchange sources from the composite. The effect of those differences is generally deemed to be immaterial. The securities holdings of the Composite may differ materially from those of the index used for comparative purposes. Composites and benchmarks include the reinvestment of dividends and other earnings. Indexes are unmanaged and do not incur expenses. You cannot invest directly in an index. Gross-of-fee returns do not include the deduction of management fees and other expenses that may be incurred in managing an investment account. A portfolio's return will be reduced by advisory and other fees. Net-of-fee returns are calculated using a model fee. For the applicable time periods, net-of-fees returns reflect either the deduction of the highest management fee that is paid by a portfolio in the Composite during the performance period, applied on a monthly basis, or the deduction of the highest applicable management fee in effect during the performance period that would be charged based on the fee schedule appropriate to this mandate, without the benefit of breakpoints, applied on a monthly basis, whichever is higher. Net-of-fee calculation methodology may change over time. Actual investment advisory fees incurred by clients are typically negotiated on an individual basis and may vary depending upon, among other things, the applicable fee schedule and portfolio size. Our standard fee schedules are available upon request.