January 31, 2009
MSCI ACWI Information Technology Index (ND)
Total strategy assets†
(as of December 2022)
- 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, 2022
|MTD||QTD||1 Year||3 Years||5 Years||10 Years|
|Global Technology (gross)||-7.10%||6.11%||-31.69%||9.82%||13.24%||17.71%|
|Global Technology (net)||-7.16%||5.89%||-32.23%||8.99%||12.46%||16.89%|
|MSCI ACWI Information Technology Index (ND)||-7.84%||5.77%||-30.98%||8.82%||13.12%||16.14%|
Calendar-year composite performance (%) as of December 31, 2022
|Global Technology (gross)||-31.69%||12.48%||72.37%||48.92%||-5.60%||48.54%||13.77%||12.06%||14.98%||25.98%|
|Global Technology (net)||-32.23%||11.57%||71.25%||48.03%||-6.17%||47.65%||13.08%||11.23%||14.06%||24.97%|
|MSCI ACWI Information Technology Index (ND)||-30.98%||29.85%||43.78%||47.55%||-2.60%||38.23%||11.45%||4.76%||16.06%||28.72%|
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 ACWI Information Technology Index (ND). The Composite may contain accounts with different but largely similar benchmarks. 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 Composite's benchmark was changed prospectively on April 1, 2022, from the MSCI World Information Technology Index (ND) to the MSCI ACWI Information Technology Index (ND). Benchmark performance represents the MSCI World Information Technology Index (ND) through March 31, 2022, and the performance of the MSCI ACWI Information Technology Index (ND) thereafter. The MSCI ACWI Information Technology Index (ND) includes large and mid cap securities across 23 Developed Markets (DM) countries and 25 Emerging Markets (EM) countries. All securities in the index are classified in the Information Technology as per the Global Industry Classification Standard (GICS®). 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. The MSCI ACWI Information Technology Index (ND) is a better comparison for the Composite's investment strategy.
Gross performance includes the deduction of transaction costs but does 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 performance reflects the deduction of a model fee applied on a monthly basis, equal to the actual management fee incurred by a portfolio in the Composite or the highest management fee that would be charged to a prospect of the strategy, whichever is higher. The model fee may change over time. Actual advisory fees may vary among clients with the same investment strategy. The Composite includes all actual, fully discretionary accounts with substantially similar investment policies and objectives managed to the Composite's 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 strategy may differ materially from those of the index used for comparative purposes.