U.S. Large Cap Value Equity Concentrated
November 30, 2016
Russell 1000 Value Index
Total strategy assets†
(as of May 2022)
- Separate account
- A disciplined process that combines fundamental research and quantitative tools to pursue multiple alpha sources, with a strong overlay of risk control and portfolio construction
- A focus on companies' ability and willingness to return capital to shareholders
- Veteran managers whose experience with both U.S. and non-U.S. value strategies provides critical global insight for analyzing the large-cap value equity universe
*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. There are no guarantees that a company will continue to pay dividends. Dividend yield is one component of performance and should not be the only consideration for investment. Individual results may vary. Companies that pay dividends may lose value. Past performance is not a guarantee of future results.
†Assets may include accounts that are not reflected in the composite.
Annualized composite performance (%) as of May 31, 2022
|MTD||QTD||YTD||1 Year||3 Years||5 Years||Since Inception|
|U.S. Large Cap Value Equity Concentrated (gross)||3.17%||-3.73%||-2.71%||7.93%||17.55%||14.16%||14.50%|
|U.S. Large Cap Value Equity Concentrated (net)||3.14%||-3.78%||-2.83%||7.60%||17.20%||13.81%||14.16%|
|Russell 1000 Value Index||1.94%||-3.81%||-4.52%||0.93%||12.75%||9.50%||9.67%|
Calendar-year composite performance (%) as of May 31, 2022
|U.S. Large Cap Value Equity Concentrated (gross)||35.25%||3.88%||32.52%||-5.52%||20.14%||--||--||--||--||--|
|U.S. Large Cap Value Equity Concentrated (net)||34.84%||3.57%||32.13%||-5.81%||19.78%||--||--||--||--||--|
|Russell 1000 Value Index||25.16%||2.80%||26.54%||-8.27%||13.66%||--||--||--||--||--|
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 Value Equity Composite (the “Composite”) seeks to invest in companies with underappreciated fundamentals and the income potential from growing dividends to pursue returns (common stocks of U.S. companies, with a focus on value stocks that offer the potential for capital growth, current income, or both). The Composite’s strategy uses a disciplined process that combines fundamental research and quantitative tools to pursue multiple alpha sources, with a strong overlay of risk control and portfolio construction and a focus on large companies whose stocks are priced below their long-term potential, and where there may be a catalyst for positive change. Leverage is not utilized in any account in this Composite, however, derivatives (including futures, exchange-traded or OTC options, and swaps) may be used in some portfolios for hedging or non-hedging purposes. The Composite's benchmark is the Russell 1000 Value Index. The Composite comprises all fully discretionary accounts, including carve-outs, managed by Putnam Investments in this investment style. The Composite includes portfolios with different currencies that have been converted. Carve-out assets included in the Composite are managed separately with their own cash. A “carve-out” is a portion of a portfolio that is by itself representative of a distinct investment strategy. It is used to create a track record for a narrower mandate from a multiple-strategy portfolio managed to a broader mandate. The Composite includes portfolios with different currencies that have been converted. The Composite inception date was December 31, 1992. The Composite creation date was October 2, 2002.
The Russell 1000® Value Index is an unmanaged index of those companies in the large-cap Russell 1000® Index chosen for their value 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.