U.S. Small Cap Growth Equity

The strategy seeks to outperform the Russell 2000 Growth index over a full market cycle.*

Strategy highlights

Inception date

January 31, 2000

Benchmark

Russell 2000 Growth Index

Total strategy assets

$552.0M

(as of November 2019)

Investment vehicles

  • Separate account
  • The strategy seeks to build a portfolio that offers above-average growth with a focus on quality and stability
  • We look for mispriced growth in three main areas of the market: high-quality growth, emerging growth, and cyclical growth
  • Portfolio manager with over 20 years of investment experience leverages extensive resources across the Putnam Equity Research team

*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. See the composite disclosures for a summary of risk considerations. 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.

Investment team

Performance

Annualized composite performance (%) as of November 30, 2019

  MTD QTD YTD 1 Year 3 Years 5 Years 10 Years
U.S. Small Cap Growth Equity (gross) 6.66% 8.31% 39.14% 24.68% 19.11% 13.00% 15.73%
U.S. Small Cap Growth Equity (net) 6.59% 8.16% 38.12% 23.68% 18.15% 12.05% 14.70%
Russell 2000 Growth Index 5.89% 8.90% 25.61% 10.93% 12.15% 9.48% 13.68%

Calendar-year composite performance (%) as of November 30, 2019

  2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
U.S. Small Cap Growth Equity (gross) -1.20% 21.69% 9.54% -1.95% 3.21% 49.43% 15.69% -2.37% 27.82% 32.48%
U.S. Small Cap Growth Equity (net) -1.99% 20.72% 8.66% -2.90% 2.18% 47.93% 14.56% -3.21% 26.73% 31.36%
Russell 2000 Growth Index -9.31% 22.17% 11.32% -1.38% 5.60% 43.30% 14.59% -2.91% 29.09% 34.47%

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. Please refer to the composite report and disclosures below for additional important information regarding performance disclosures and investments risks.

Periods less than one year are not annualized. Performance is stated in U.S. dollars. and includes the reinvestment of dividends and interest.

Literature

Related topics

Putnam Equity Outlook

Strategy

Strategy profile

Important disclosures

The Putnam Investments U.S. Small Cap Growth Equity Composite (the "Composite") seeks to outperform its benchmark, the Russell 2000 Growth Index, over a full market cycle. The process utilizes a bottom-up approach that integrates fundamental and quantitative techniques with risk management tools. The approach focuses on adding value in each investment sector at a reasonable level of risk to create returns in excess of the index over a full market cycle. The Composite comprises all discretionary U.S. dollar based institutional accounts and mutual funds managed by the Firm in this investment style. The Composite also includes all U.S. Small Cap Growth carve-out assets managed by Putnam in this style, 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 creation date was October 18, 2000.

The Russell 2000 Growth Index measures the performance of those Russell 2000 companies with higher price-to-book ratios and higher forecasted growth values.

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.