Active Equities

Putnam Emerging Markets Equity Fund (Class I)

Pursuing growth opportunities in developing economies

Highlights

Objective

The fund seeks capital appreciation.

Strategy and process

  • Growth potential: Emerging markets offer the potential for continued growth due to attractive demographics, rising wealth, and increased investment in infrastructure in developing countries.
  • A disciplined process: By integrating multiple perspectives into the portfolio construction process, the fund manager is able to better evaluate the attractiveness of individual companies within the context of changing local and global influences.
  • Rigorous research: The manager leverages Putnam's global research platform to identify opportunities across emerging and select frontier markets.

Fund price

Yesterday’s close 52-week high 52-week low
Net asset value $24.17
0.21% | $0.05
$25.14
15/07/2019
$21.29
24/12/2018
Historical fund price

Fund facts as of 31/08/2019

Total net assets
$5.34M
Dividend frequency
Annually
Number of holdings
77
Fiscal year-end
June
CUSIP / Fund code
G7304V318 / DF8
Inception date
30/10/2008
Category
Blend
Open to new investors

Net income attributable to Unitholders of Class T Units will be distributed annually. The Fund does not currently intend to distribute net income to Unitholders of the other Classes of Units of the Fund.

Management team

Portfolio Manager
Portfolio Manager, Analyst


Literature

Fund documents

Prospectus (PDF)
UK Country Supplement (PDF)
Fact Sheet (PDF)

Performance

  • Total return (%) as of 30/06/2019

  • Annual performance as of 30/06/2019

Annualized Total return (%) as of 30/06/2019

Annualized performance 1 yr. 3 yrs. 5 yrs. 10 yrs.
Before sales charge -1.70% 11.07% 3.75% 5.98%
MSCI Emerging Markets Index (ND) 1.21%10.66%2.49%5.81%

Data is historical. Past performance is not a guarantee of future results. More recent returns may be more or less than those shown. Investment return and principal value will fluctuate, and you may have a gain or a loss when you sell your units. Performance assumes reinvestment of distributions at net asset value (NAV) and reflects fund operating expenses such as management fees but does not account for any taxes or sales charges. The payment of any sales charges will reduce performance. Performance for each class of Units is denominated in the currency of the respective class. 

Performance snapshot

  Before sales charge
1 mt. as of 31/08/2019 -4.01%
YTD as of 18/09/2019 10.72%

Risk-adjusted performance as of 31/08/2019

Alpha (3 yrs.) 1.10
Sharpe ratio (3 yrs.) 0.38
Treynor ratio (3 yrs.) 5.45
Information ratio (3 yrs.) 0.26

Volatility as of 31/08/2019

Standard deviation (3 yrs.) 14.07%
Beta 0.98
R-squared 0.93

Capture ratio as of 31/08/2019

Up-market (3 yrs.) 100.33
Down-market (3 yrs.) 94.75

The up-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has risen. The ratio is calculated by dividing the manager’s returns by the returns of the index during the up-market, and multiplying that factor by 100. The down-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has dropped. The ratio is calculated by dividing the manager’s returns by the returns of the index during the down-market and multiplying that factor by 100.


Holdings

Top 10 holdings as of 31/08/2019

Alibaba Group Holding 6.16%
Tencent Holdings 5.51%
Samsung Electronics 4.82%
Taiwan Semiconductor Manufacturing 3.93%
Ping An Insurance Group Of China 3.20%
Naspers 2.93%
Lukoil Pjsc 2.27%
Housing Development Finance Corp 2.00%
Mediatek 1.97%
Petroleo Brasileiro 1.80%
Top 10 holdings, percent of portfolio 34.59%

Full portfolio holdings as of 30/06/2019

ALIBABA GROUP HOLDING-SP ADR 5.32%
SAMSUNG ELECTRONICS CO LTD 5.06%
TENCENT HOLDINGS LTD 4.91%
TAIWAN SEMICONDUCTOR MANUFAC 3.13%
PING AN INSURANCE GROUP CO-H 2.95%
HDFC BANK LIMITED 2.33%
NASPERS LTD-N SHS 2.27%
AIA GROUP LTD 2.23%
LUKOIL PJSC-SPON ADR 2.23%
HOUSING DEVELOPMENT FINANCE 1.96%
PETROLEO BRASILEIRO-SPON ADR 1.94%
MEDIATEK INC 1.60%
INFOSYS LTD 1.49%
CHINA WATER AFFAIRS GROUP 1.45%
ABU DHABI COMMERCIAL BANK 1.42%
CNOOC LTD 1.42%
SUNNY FRIEND ENVIRONMENTAL T 1.40%
COMMERCIAL INTL BANK-GDR REG 1.31%
HONG KONG EXCHANGES & CLEAR 1.30%
CREDICORP LTD 1.25%
JUBILANT FOODWORKS LTD 1.23%
COMPANHIA DE LOCACAO DAS AME 1.22%
LG HOUSEHOLD & HEALTH CARE 1.20%
NETEASE INC-ADR 1.14%
CHINA CONSTRUCTION BANK-H 1.13%
MOL HUNGARIAN OIL AND GAS PL 1.11%
BUPA ARABIA 144A/REGS WARRANT 12/16/2021 1.09%
GEOPARK LTD 1.07%
NATIONAL BANK OF KUWAIT 144A/REGS WARRANT 01/16/2020 1.07%
IVANHOE MINES LTD-CL A 1.06%
CHINA OVERSEAS LAND & INVEST 1.03%
WALMART DE MEXICO SAB DE CV 1.01%
WILCON DEPOT INC 1.01%
ABSA GROUP LTD 1.00%
LOGAN PROPERTY HOLDINGS CO L 0.96%
TCI CO LTD 0.96%
CTRIP.COM INTERNATIONAL-ADR 0.94%
X 5 RETAIL GROUP NV-REGS GDR 0.94%
ALLIANCE GLOBAL GROUP INC 0.92%
SINO-AMERICAN SILICON PRODUC 0.92%
FU SHOU YUAN INTERNATIONAL 0.92%
INTER RAO UES PJSC 0.92%
GUANGZHOU BAIYUN AIRPORT 144A/REGS WARRANT 04/10/2020 0.88%
CHINA RAILWAY GROUP LTD-H 0.88%
CTCI CORP 0.86%
NESTLE INDIA LTD 0.86%
DINO POLSKA SA 0.86%
GRUPO BIMBO SAB- SERIES A 0.85%
GRUPO FINANCIERO GALICIA-ADR 0.83%
UPL LTD 0.81%
ATACADAO SA 0.81%
SBERBANK PJSC -SPONSORED ADR 0.79%
SAFARICOM PLC 0.79%
SHENZHOU INTERNATIONAL GROUP 0.79%
EDELWEISS FINANCIAL SERVICES 0.79%
JERONIMO MARTINS 0.79%
ANGLO AMERICAN PLC 0.79%
AYALA LAND INC 0.79%
ITAU UNIBANCO H-SPON PRF ADR 0.78%
JARIR MARKETING CO 144A/REGS WARRANT 02/04/2020 0.77%
TENCENT HOLDINGS LTD-UNS ADR 0.74%
SAUDI CO FOR HARDWARE 144A/REGS WARRANT 01/20/2022 0.74%
KEI INDUSTRIES LTD 0.74%
POYA INTERNATIONAL CO LTD 0.72%
YANDEX NV-A 0.71%
CLEAN TEQ HOLDINGS LTD 0.71%
COBALT 27 CAPITAL CORP 0.69%
GRAPE KING BIO LTD 0.69%
MONETA MONEY BANK AS 0.69%
CHAILEASE HOLDING CO LTD 0.69%
IRB BRASIL RESSEGUROS SA 0.64%
LOMA NEGRA CIA IND-SPON ADR 0.64%
PINDUODUO INC-ADR 0.61%
WIJAYA KARYA PERSERO TBK PT 0.60%
MOTA ENGIL SGPS SA 0.56%
UNITED INTL TRANSPORTATION 144A/REGS WARRANT 12/09/2021 0.54%
NASPERS LTD-N SHS SPON ADR 0.53%
AFREECATV CO LTD 0.47%
I-SENS INC 0.47%
BANK TABUNGAN PENSIUNAN NASI 0.44%
HILONG HOLDING LTD 0.40%
AZUL SA-ADR 0.40%
CHINA TRADITIONAL CHINESE ME 0.36%

Prior top 10 holdings

Top 10 holdings as of 31/08/2019
Alibaba Group Holding
Tencent Holdings
Samsung Electronics
Taiwan Semiconductor Manufacturing
Ping An Insurance Group Of China
Naspers
Lukoil Pjsc
Housing Development Finance Corp
Mediatek
Petroleo Brasileiro
Holdings represent 34.59% of portfolio
Top 10 holdings as of 31/07/2019
Tencent Holdings
Alibaba Group Holding
Samsung Electronics
Taiwan Semiconductor Manufacturing
Ping An Insurance Group Of China
Naspers
Lukoil Pjsc
Aia Group
Housing Development Finance Corp
Petroleo Brasileiro
Holdings represent 34.13% of portfolio
Top 10 holdings as of 30/06/2019
Tencent Holdings
Alibaba Group Holding
Samsung Electronics
Taiwan Semiconductor Manufacturing
Ping An Insurance Group Of China
Naspers
Hdfc Bank
Aia Group
Lukoil Pjsc
Housing Development Finance Corp
Holdings represent 33.64% of portfolio
Top 10 holdings as of 31/05/2019
Tencent Holdings
Alibaba Group Holding
Samsung Electronics
Taiwan Semiconductor Manufacturing
Ping An Insurance Group Of China
Hdfc Bank
Naspers
Aia Group
Housing Development Finance Corp
Lukoil Pjsc
Holdings represent 31.23% of portfolio

Unitholders may obtain more recent information about certain Funds' portfolio holdings from time to time by contacting the Manager. Portfolio holdings information will only be provided for legitimate purposes as determined by the Manager, and will be subject to a reasonable delay intended to protect the Funds.

Portfolio composition as of 31/08/2019

Common stock 95.11%
Cash and net other assets 3.77%
Preferred stock 1.12%

Equity statistics as of 31/08/2019

Median market cap $10.40B
Weighted average market cap $99.22B
Price to book 2.34
Price to earnings 12.97

Fund characteristics will vary over time.

Due to rounding, percentages may not equal 100%.

Risks: International investing involves currency, economic, and political risks. Emerging-market securities carry illiquidity and volatility risks. Investments in small and/or midsize companies increase the risk of greater price fluctuations. From time to time, the fund may invest a significant portion of its assets in companies in one or more related industries or sectors, which would make the fund more vulnerable to adverse developments affecting those industries or sectors. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. Risks associated with derivatives include increased investment exposure (which may be considered leverage) and, in the case of over-the-counter instruments, the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations. The value of investments in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political or financial market conditions, investor sentiment and market perceptions, government actions, geopolitical events or changes, and factors related to a specific issuer, geography, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. You can lose money by investing in the fund.

Top industry sectors as of 31/08/2019

Financials 20.85%
Consumer discretionary 15.86%
Information technology 13.31%
Industrials 10.48%
Communication services 10.07%
Consumer staples 8.51%
Energy 8.49%
Cash and net other assets 3.77%
Materials 3.50%
 
Other
5.16%
Real estate 2.61%
Utilities 2.00%
Health care 0.55%

The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.

Sectors will vary over time.

Country allocation as of 31/08/2019

China 28.03%
Taiwan 11.56%
India 8.84%
South Korea 8.11%
Brazil 6.82%
Russia 6.15%
Cash and net other assets 3.77%
South Africa 2.93%
Saudi Arabia 2.73%
 
Other
21.06%
Hong Kong 2.32%
Philippines 1.84%
Egypt 1.75%
Canada 1.61%
United Arab Emirates 1.59%
Portugal 1.54%
Peru 1.21%
Kuwait 1.17%
Mexico 1.14%
Hungary 1.04%
United Kingdom 1.02%
Kenya 0.84%
Thailand 0.81%
Poland 0.75%
Colombia 0.74%
Czech Republic 0.70%
Australia 0.64%
Indonesia 0.35%

Expenses

Expense ratio

Class A Class B Class C Class I Class M Class T
Total expense ratio 2.05% 2.55% 2.30% 1.10% 2.05% 2.05%

MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets. You cannot invest directly in an index.

Risks: International investing involves currency, economic, and political risks. Emerging-market securities carry illiquidity and volatility risks. Investments in small and/or midsize companies increase the risk of greater price fluctuations. From time to time, the fund may invest a significant portion of its assets in companies in one or more related industries or sectors, which would make the fund more vulnerable to adverse developments affecting those industries or sectors. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. Risks associated with derivatives include increased investment exposure (which may be considered leverage) and, in the case of over-the-counter instruments, the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations. The value of investments in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political or financial market conditions, investor sentiment and market perceptions, government actions, geopolitical events or changes, and factors related to a specific issuer, geography, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. You can lose money by investing in the fund.