Active Equities

Putnam Global Technology Fund (Class I)

Catalyst-driven approach to global technology investing

Highlights

Objective

The fund seeks capital appreciation.

Strategy and process

  • Research-intensive process We believe deep fundamental research focused on catalyst-driven insights allows us to identify opportunities in emerging and established technology companies.
  • Global multi-cap orientation The strategy focuses on global technology opportunities across the entire cap spectrum. Typically, one third of assets are invested in non-U.S. stocks, and over 30% are invested in small- and mid-cap companies.
  • Concentrated, best-ideas approach The team employs disciplined portfolio construction and risk management tools aimed at delivering alpha by investing in focused portfolios of approximately 25 to 35 high-conviction names.

Fund price

Prior close 52-week high 52-week low
Net asset value $6.53
1.71% | $0.11
$10.15
08/12/2021
$6.42
27/09/2022
(Optional)

Fund facts as of 31/08/2022

Total net assets
$1.81M
Dividend frequency
Annually
Number of holdings
29
Fiscal year-end
June
CUSIP / Fund code
G7S002459 / WY8
Inception date
30/11/2021
Category
Global Sector
Open to new investors

Net income attributable to Unitholders of Class A Units, Class E Units, Class I Units, Class I3 Units, and Class S 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, Analyst


Literature

Fund documents

Prospectus (PDF)
Fact Sheet (PDF)

Performance

  • Total return (%) as of 30/06/2022

Annualized Total return (%) as of 30/06/2022

Annualized performance 1 yr. 3 yrs. 5 yrs.
Before sales charge -- -- --
MSCI WORLD IT 10-40 INDEX -24.47%----

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 31/08/2022 -3.99%
YTD as of 28/09/2022 -33.71%

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

Microsoft Corp 9.32%
Visa 6.40%
Fidelity National Information Services 5.59%
Asml Holding Nv 5.43%
Oracle Corp 5.33%
Activision Blizzard 4.80%
Mastercard 4.71%
Thomson Reuters Corp 4.63%
Taiwan Semiconductor Manufacturing 4.51%
Renesas Electronics Corp 4.41%
Top 10 holdings, percent of portfolio 55.13%



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 31/08/2022

Common stock 100.70%
Cash and net other assets -0.70%

Equity statistics as of 31/08/2022

Median market cap $55.51B
Weighted average market cap $351.29B
Price to book 4.33
Price to earnings 19.21

Fund characteristics will vary over time.

Due to rounding, percentages may not equal 100%.

Consider these risks before investing: 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. The technology industries may be affected by technological obsolescence, short product cycles, falling prices and profits, competitive pressures, and general market conditions.

The fund concentrates on a limited group of industries and is non-diversified. Because the fund may invest in fewer issuers than a diversified fund, it is vulnerable to common economic forces and may result in greater losses and volatility. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. The use of short selling may result in losses if the securities appreciate in value. 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.

Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund’s other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund.

Top industry sectors as of 31/08/2022

Software 28.07%
Semiconductors & Semiconductor Equipment 26.21%
IT Services 18.77%
Internet & Direct Marketing Retail 8.80%
Entertainment 5.72%
Professional Services 4.63%
Electronic Equipment, Instruments & Components 3.52%
Interactive Media & Services 2.74%
Health Care Equipment & Supplies 2.24%
 
Other
-0.70%
Cash and net other assets -0.70%

Country allocation as of 31/08/2022

United States 63.63%
China 7.97%
Japan 7.65%
Taiwan 7.35%
Netherlands 5.43%
Canada 4.63%
United Arab Emirates 2.07%
South Korea 1.05%
Singapore 0.92%
 
Other
-0.70%
Cash and net other assets -0.70%

Expenses

Expense ratio

Class A Class E Class I Class S
Total expense ratio 1.75% 0.60% 0.60% 0.60%

The MSCI World Information Technology 10/40 Index is a UCITS constrained, market capitalization weighted index that measures the performance of developed markets in the information technology sector. You cannot invest directly in an index.

Consider these risks before investing: 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. The technology industries may be affected by technological obsolescence, short product cycles, falling prices and profits, competitive pressures, and general market conditions.

The fund concentrates on a limited group of industries and is non-diversified. Because the fund may invest in fewer issuers than a diversified fund, it is vulnerable to common economic forces and may result in greater losses and volatility. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. The use of short selling may result in losses if the securities appreciate in value. 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.

Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund’s other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund.