Active Equities

Putnam Global Core Equity Fund (Class I)

Selecting companies around the world that are attractive for investors

Highlights

Objective

The fund seeks capital appreciation.

Strategy and process

  • Global companies: The fund seeks to capitalize on opportunities across global regions and market-cap sizes.
  • A flexible strategy: Pursuing Putnam's blend strategy, the fund can own growth- or value-style stocks to participate when either style leads the global market.
  • A disciplined process: A process that combines fundamental research and quantitative tools to pursue multiple alpha sources with a strong overlay of risk control in portfolio construction.

Fund price

Yesterday’s close 52-week high 52-week low
Net asset value $26.46
-0.15% | $-0.04
$26.50
17/09/2019
$20.97
24/12/2018
Historical fund price

Fund facts as of 31/08/2019

Total net assets
$5.78M
Dividend frequency
Annually
Number of holdings
80
Fiscal year-end
June
CUSIP / Fund code
G7304V441 / DB8
Inception date
16/10/2008
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

Chief Investment Officer, Equities


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 0.62% 10.53% 4.33% 9.52%
MSCI World Index (ND) 6.33%11.77%6.60%10.72%

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.

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.

 

Performance snapshot

  Before sales charge
1 mt. as of 31/08/2019 -1.69%
YTD as of 18/09/2019 19.08%

Risk-adjusted performance as of 31/08/2019

Alpha (3 yrs.) -1.09
Sharpe ratio (3 yrs.) 0.62
Treynor ratio (3 yrs.) 7.12
Information ratio (3 yrs.) -0.30

Volatility as of 31/08/2019

Standard deviation (3 yrs.) 11.75%
Beta 1.02
R-squared 0.93

Capture ratio as of 31/08/2019

Up-market (3 yrs.) 100.47
Down-market (3 yrs.) 108.91

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

Nrg Energy 3.95%
Amazon.Com 3.01%
Assured Guaranty 2.85%
Nomad Foods 2.68%
Unilever Nv 2.62%
Asahi Group Holdings 2.10%
Microsoft Corp 2.05%
Cenovus Energy 2.01%
Oneok 2.01%
BD Medical 1.85%
Top 10 holdings, percent of portfolio 25.13%

Full portfolio holdings as of 30/06/2019

NRG ENERGY INC 3.75%
AMAZON.COM INC 3.16%
NOMAD FOODS LTD 2.80%
ASSURED GUARANTY LTD 2.77%
UNILEVER NV-CVA 2.54%
CENOVUS ENERGY INC 2.00%
MICROSOFT CORP 1.96%
ONEOK INC 1.91%
ADVANCE AUTO PARTS 1.87%
REPO DELIV TREAS 2.47 07/01/2019 1.84%
BECTON DICKINSON AND CO 1.80%
UNION PACIFIC CORP 1.70%
COMPASS GROUP PLC 1.70%
VISA INC-CLASS A SHARES 1.62%
KINDER MORGAN INC 1.60%
BOSTON SCIENTIFIC CORP 1.59%
SERVICENOW INC 1.58%
SUMMIT MATERIALS INC -CL A 1.56%
BANK OF AMERICA CORP 1.53%
SHERWIN-WILLIAMS CO/THE 1.42%
SIG COMBIBLOC GROUP AG 1.37%
FIRST DATA CORP- CLASS A 1.37%
WALT DISNEY CO/THE 1.34%
ALPHABET INC-CL C 1.32%
JOHNSON CONTROLS INTERNATION 1.28%
DANAHER CORP 1.28%
NINTENDO CO LTD 1.25%
ASAHI GROUP HOLDINGS LTD 1.23%
CIGNA CORP 1.21%
HILTON WORLDWIDE HOLDINGS IN 1.21%
LOWES COMPANIES INC 1.20%
COCA-COLA CO/THE 1.13%
UNIVERSAL ENTERTAINMENT CORP 1.12%
NOVOZYMES A/S-B SHARES 1.10%
ADOBE INC 1.10%
ASTRAZENECA PLC 1.09%
ASHTEAD GROUP PLC 1.04%
SHISEIDO CO LTD 1.03%
PRUDENTIAL PLC 1.02%
FAIRFAX FINANCIAL HLDGS LTD 1.02%
FORTUNE BRANDS HOME & SECURI 1.00%
QBE INSURANCE GROUP LTD 1.00%
KENNEDY-WILSON HOLDINGS INC 1.00%
LENNAR CORP-A 0.99%
BALL CORP 0.99%
L3 TECHNOLOGIES INC 0.98%
ASSOCIATED BRITISH FOODS PLC 0.97%
LIVE NATION ENTERTAINMENT IN 0.97%
PIRELLI & C SPA 0.96%
RADIAN GROUP INC 0.96%
SUNCOR ENERGY INC 0.96%
CHENIERE ENERGY INC 0.94%
HERSHEY CO/THE 0.93%
VERTEX PHARMACEUTICALS INC 0.90%
SAMSUNG ELECTRONICS CO LTD 0.90%
PALTAC CORPORATION 0.84%
TEXAS INSTRUMENTS INC 0.83%
GODADDY INC - CLASS A 0.83%
PIONEER NAT RES CO 0.82%
BANK OF IRELAND GROUP PLC 0.82%
SINO-AMERICAN SILICON PRODUC 0.81%
EURAZEO SE 0.79%
KYUDENKO CORP 0.77%
ACCENTURE PLC-CL A 0.77%
REALPAGE INC 0.74%
DXC TECHNOLOGY CO 0.74%
HONG KONG EXCHANGES & CLEAR 0.72%
YELLOW CAKE PLC 144A 0.71%
OPEN HOUSE CO LTD 0.70%
WASTE CONNECTIONS INC 0.70%
INSTRUCTURE INC 0.69%
HONEYWELL INTERNATIONAL INC 0.69%
E*TRADE FINANCIAL CORPORATION 0.69%
ICU MEDICAL INC 0.69%
AXA SA 0.68%
CONOCOPHILLIPS 0.68%
PERNOD RICARD SA 0.68%
EDELWEISS FINANCIAL SERVICES 0.66%
UBER TECH INC P/P CV PFD 0.64%
SCREEN HOLDINGS CO LTD 0.64%
DALATA HOTEL GROUP PLC 0.59%
HIBERNIA REIT PLC 0.58%
CHALLENGER LTD 0.55%
NXP SEMICONDUCTORS NV 0.53%
SEVEN GENERATIONS ENERGY - A 0.26%
CHF/USD 09/18/2019 BCAP-FX 0.04%
EUR/USD 09/18/2019 BANKAM 0.03%
CAD/USD 07/17/2019 JPMCB 0.03%
CAD/USD 07/17/2019 WPAC 0.03%
SEK/USD 09/18/2019 JPMCB 0.01%
EUR/USD 09/18/2019 HSBCB 0.01%
JPY/USD 08/21/2019 JPMCB 0.01%
NOK/USD 09/18/2019 JPMCB 0.01%
CAD/USD 07/17/2019 BANKAM 0.01%
EUR/USD 09/18/2019 JPMCB 0.00%
HKD/USD 08/21/2019 BCAP-FX 0.00%
SGD/USD 08/21/2019 JPMCB 0.00%
ILS/USD 07/17/2019 SSBT 0.00%
JPY/USD 08/21/2019 CITI 0.00%
EUR/USD 09/18/2019 GSFX 0.00%
CNH/USD 08/21/2019 HSBCB 0.00%
GBP/USD 09/18/2019 BCAP-FX -0.00%
TWD/USD 08/21/2019 GSFX -0.00%
GBP/USD 09/18/2019 GSFX -0.00%
GBP/USD 09/18/2019 JPMCB -0.00%
AUD/USD 07/17/2019 JPMCB -0.00%
KRW/USD 08/21/2019 JPMCB -0.01%
CHF/USD 09/18/2019 JPMCB -0.01%
DKK/USD 09/18/2019 CITI -0.01%
GBP/USD 09/18/2019 BANKAM -0.01%
AUD/USD 07/17/2019 SSBT -0.01%
CAD/USD 07/17/2019 SSBT -0.06%

Prior top 10 holdings

Top 10 holdings as of 31/08/2019
Nrg Energy
Amazon.Com
Assured Guaranty
Nomad Foods
Unilever Nv
Asahi Group Holdings
Microsoft Corp
Cenovus Energy
Oneok
BD Medical
Holdings represent 25.13% of portfolio
Top 10 holdings as of 31/07/2019
Nrg Energy
Amazon.Com
Nomad Foods
Assured Guaranty
Unilever Nv
Cenovus Energy
Microsoft Corp
Oneok
Asahi Group Holdings
Advance Auto Parts
Holdings represent 24.71% of portfolio
Top 10 holdings as of 30/06/2019
Nrg Energy
Amazon.Com
Nomad Foods
Assured Guaranty
Unilever Nv
Cenovus Energy
Microsoft Corp
Oneok
Advance Auto Parts
BD Medical
Holdings represent 24.55% of portfolio
Top 10 holdings as of 31/05/2019
Nrg Energy
Assured Guaranty
Amazon.Com
Nomad Foods
Unilever Nv
BD Medical
Boston Scientific Corp
Servicenow
Alphabet
Cenovus Energy
Holdings represent 24.90% 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 97.23%
Cash and net other assets 2.31%
Convertible preferred stock 0.46%

Equity statistics as of 31/08/2019

Median market cap $26.60B
Weighted average market cap $112.81B
Price to book 2.38
Price to earnings 16.93

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. 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

Information technology 14.69%
Consumer discretionary 13.41%
Financials 12.26%
Consumer staples 12.25%
Industrials 9.73%
Energy 8.62%
Health care 8.16%
Materials 7.16%
Communication services 5.17%
 
Other
8.55%
Utilities 3.95%
Cash and net other assets 2.31%
Real estate 2.29%

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

United States 62.51%
United Kingdom 9.00%
Japan 8.37%
Canada 3.87%
Netherlands 2.62%
Cash and net other assets 2.31%
France 2.29%
Switzerland 1.60%
Ireland 1.57%
 
Other
5.86%
Australia 1.29%
Denmark 1.02%
Italy 0.86%
South Korea 0.81%
Brazil 0.77%
Taiwan 0.73%
India 0.38%

Expenses

Expense ratio

Class A Class B Class C Class I Class M Class T
Total expense ratio 1.80% 2.30% 2.05% 0.90% 1.80% 1.80%

The MSCI World Index is an unmanaged index of equity securities from developed countries. 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. 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.