U.S. Large Cap Growth Equity Concentrated
March 31, 2017
Russell 1000 Growth Index
Total strategy assets†
(as of November 2023)
- Separate account
• Seeks to identify companies exhibiting above-average growth and that can outperform in a variety of economic environments
• Combines top-down investment themes with fundamental research to identify companies we believe can benefit from growth trends
• Constructs a concentrated portfolio that seeks to maximize stock-specific risk and mitigate factor bets
*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.
†Strategy assets include assets for aggregate strategy accounts that are not reflected in the composite.
Annualized composite performance (%) as of November 30, 2023
|MTD||QTD||YTD||1 Year||3 Years||5 Years||Since Inception|
|U.S. Large Cap Growth Equity Concentrated (gross)||12.01%||11.46%||40.21%||29.00%||7.49%||16.40%||17.49%|
|U.S. Large Cap Growth Equity Concentrated (net)||11.96%||11.36%||39.50%||28.28%||6.93%||15.87%||16.99%|
|Russell 1000 Growth Index||10.90%||9.32%||36.63%||26.17%||8.92%||16.36%||16.37%|
Calendar-year composite performance (%) as of November 30, 2023
|U.S. Large Cap Growth Equity Concentrated (gross)||-31.06%||24.08%||37.62%||40.09%||6.84%||--||--||--||--||--|
|U.S. Large Cap Growth Equity Concentrated (net)||-31.44%||23.49%||37.13%||39.60%||6.46%||--||--||--||--||--|
|Russell 1000 Growth Index||-29.14%||27.60%||38.49%||36.39%||-1.51%||--||--||--||--||--|
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 U.S. Large Cap Growth Equity Concentrated Composite (the "Composite") seeks long-term capital appreciation by investing primarily in equity securities of common stock companies incorporated in the United States and other securities that are traded on U.S. markets or otherwise trade or settle in U.S. dollars. Accounts in the Composite target above-average growth by investing in large-cap companies whose earnings and cash-flow trajectories indicate potential growth opportunities. The strategy focuses on growth companies that exhibit both a high level of growth and an above-average duration of growth and combines top-down investment themes with bottom-up research to select securities that can benefit from growth trends and seeks to take advantage of market opportunities and differentiated views. Accounts in the Composite are more concentrated, typically holding approximately 30 to 50 securities. Composite returns may, therefore, have a lower correlation with the benchmark than a broader U.S. Large Cap Growth Equity strategy. The Composite's benchmark is the Russell 1000 Growth Index. The Composite may use derivatives, such as futures, options, certain foreign currency transactions, warrants, and swap contracts, for both hedging and non-hedging purposes. The Composite includes all fully discretionary accounts managed by Putnam Investments in this concentrated investment style. The Composite inception date was March 31, 2017. The Composite creation date was April 10, 2017. The Composite was formerly called U.S. Large Growth Equity Managed Account.
The Russell 1000 Growth Index is an unmanaged index of those companies in the large-cap Russell 1000 Index chosen for their growth orientation.
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.