Active Sustainability
Sustainable Leaders Fund (Class Y) (PNOYX)
Investing in growing companies committed to sustainable practices
Integrated approach: Best practices
Using an integrated approach that seeks excellence in fundamentals, valuation, and sustainability, the portfolio managers seek companies with excellent environmental, social, and/or governance practices, which we believe offer more durable financial performance with lower risk profiles. See what differentiates us.
Highlights
Investing in growing companies committed to sustainable practices
The fund seeks long-term capital appreciation.
Strategy and process
- Committed companies: The fund invests in growth companies with the goal of delivering positive financial and ESG performance.
- Active strategy: The managers utilize bottom-up research to identify companies with attractive sustainability, fundamental, and valuation characteristics.
- Veteran team: A dedicated sustainable investing team is backed by Putnam's equity research and quantitative/risk analysis groups.
Fund price |
Yesterday’s close | 52-week high | 52-week low |
|---|---|---|---|
| Net asset value |
$101.35
0.68% | $0.68 |
$104.71
11/07/18 |
$75.00
12/24/18 |
Fund facts as of 06/30/19
$4,726.77M
87%
Annually
77
June
746916402 / 1831
07/19/94
Growth
PNOYX
Management team
Manager commentary | Q2 2019
When companies use sustainability to differentiate
Katherine Collins, Head of Sustainable Investing, explains how companies can integrate sustainable issues in their business models.
Literature
Fund documents |
|
| Fact Sheet (R6 share) (PDF) | |
| Fact Sheet (Y share) (PDF) |
|
| Summary Prospectus (PDF) |
|
| Statutory Prospectus (PDF) |
|
| Statement of Additional Information (SAI) (PDF) | |
| Annual Report (PDF) |
|
| Semiannual Report (PDF) |
|
| Quarterly Commentary (PDF) | |
| Proxy voting results (Form N-PX) (PDF) | |
| Equity Outlook (PDF) |
|
| Comparing Putnam's U.S. equity funds (PDF) |
|
| Q&A document (PDF) | |
Engaging with allies to advance sustainable investing
We collaborate with institutions to examine and understand the financial impacts of sustainability.Talking sustainability with CEOs
We have ongoing dialogue with the management teams of companies in which we invest, across a wide range of sustainability-related topics.Sustainability analysis enhances research
An intense focus on sustainability has the potential to deliver strong returns to investors while also benefiting communities and the environment.Performance
Total return (%) as of 09/30/19
Annual performance as of 09/30/19
Annualized Total return (%) as of 09/30/19
| Annualized performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
|---|---|---|---|---|
| Before sales charge | 7.41% | 17.31% | 12.64% | 14.39% |
| After sales charge | N/A | N/A | N/A | N/A |
| Russell 3000 Growth Index | 2.70% | 16.36% | 13.07% | 14.74% |
Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. Performance assumes reinvestment of distributions and does not account for taxes. Returns before sales charge do not reflect the current maximum sales charges as indicated below. Had the sales charge been reflected, returns would be lower. Returns at public offering price (after sales charge) for class A and class M shares reflect the current maximum initial sales charges of 5.75% and 3.50% for equity funds and Putnam Multi-Asset Absolute Return Fund, 4.00% and 3.25% for income funds and 2.25% and 0.75% for Putnam Floating Rate Income Fund, Short-Term Municipal Income, Short Duration Bond Fund, and Fixed Income Absolute Return Fund, respectively. Class B share returns reflect the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declining to 1% in the sixth year, and is eliminated thereafter (except for Putnam Floating Rate Income Fund, which is 3% in the first year, declining to 1% in the fourth year, and is eliminated thereafter). Class C shares reflect a 1% CDSC the first year that is eliminated thereafter. Performance for class B, C, M, N, R, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (with the exception of Putnam Tax-Free High Yield Fund and Putnam AMT-Free Municipal Fund, which are based on the historical performance of class B shares). Returns at public offering price (after sales charge) for class N shares reflect the current maximum initial sales charge of 1.50%. Class R5/R6 shares, available to qualified employee-benefit plans only, are sold without an initial sales charge and have no CDSC. Class Y shares are generally only available for corporate and institutional clients and have no initial sales charge. Performance for Class R5/R6 shares before their inception are derived from the historical performance of class Y shares, which have not been adjusted for the lower expenses; had they, returns would have been higher. Class A and M shares of Putnam money market funds have no initial sales charge. For a portion of the periods, some funds had expense limitations or had been sold on a limited basis with limited assets and expenses, without which returns would be lower.
Performance snapshot
| Before sales charge | After sales charge | ||
|---|---|---|---|
| 1 mt. as of 09/30/19 | 0.61% | - | |
| YTD as of 10/18/19 | 25.04% | - | |
Risk-adjusted performance as of 06/30/19
| Alpha (3 yrs.) | 3.46 |
|---|---|
| Sharpe ratio (3 yrs.) | 1.47 |
| Treynor ratio (3 yrs.) | 20.16 |
| Information ratio (3 yrs.) | 0.87 |
Volatility as of 06/30/19
| Standard deviation (3 yrs.) | 12.90% |
|---|---|
| Beta | 0.94 |
| R-squared | 0.95 |
Capture ratio as of 06/30/19
| Up-market (3 yrs.) | 101.99 |
|---|---|
| Down-market (3 yrs.) | 86.20 |
Lipper rankings as of 06/30/19
| Time period | Rank/Funds in category | Percentile ranking |
|---|---|---|
| 1 yr. | 84/546 | 16% |
| 3 yrs. | 82/489 | 17% |
| 5 yrs. | 83/431 | 20% |
| 10 yrs. | 88/314 | 28% |
Morningstar Ratings™ as of 06/30/19
| Time period | Funds in category | Morningstar Rating™ |
|---|---|---|
| Overall | 1235 | |
| 3 yrs. | 1235 | |
| 5 yrs. | 1100 | |
| 10 yrs. | 812 |
Distributions
| Record/Ex dividend date | 12/06/18 |
|---|---|
| Payable date | 12/10/18 |
| Income | $0.28 |
| Extra income | -- |
| Short-term cap. gain | $1.611 |
| Long-term cap. gain | $13.421 |
Lipper rankings are based on total return without sales charge relative to all share classes of funds with similar objectives as determined by Lipper. Past performance is not indicative of future results.
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
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.
Compare
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** FundVisualizer comparison based on Putnam fund versus the largest fund in its Morningstar category.
Holdings
Top 10 holdings as of 06/30/19
| Microsoft Corp | 6.76% |
|---|---|
| Visa | 4.13% |
| Amazon.Com | 3.99% |
| Apple | 3.52% |
| Adobe | 3.51% |
| Danaher Corp | 3.39% |
| Unilever Nv | 3.02% |
| Novozymes A/S - B Shares | 2.59% |
| Blackrock | 2.47% |
| Alphabet | 2.42% |
| Top 10 holdings, percent of portfolio | 35.80% |
Prior top 10 holdings
| Top 10 holdings as of 06/30/19 | |
|---|---|
| Microsoft Corp | |
| Visa | |
| Amazon.Com | |
| Apple | |
| Adobe | |
| Danaher Corp | |
| Unilever Nv | |
| Novozymes A/S - B Shares | |
| Blackrock | |
| Alphabet | |
| Holdings represent 35.80% of portfolio | |
| Top 10 holdings as of 05/31/19 | |
|---|---|
| Microsoft Corp | |
| Visa | |
| Amazon.Com | |
| Adobe | |
| Danaher Corp | |
| Apple | |
| Unilever Nv | |
| Novozymes A/S - B Shares | |
| Alphabet | |
| Salesforce.Com | |
| Holdings represent 35.78% of portfolio | |
| Top 10 holdings as of 04/30/19 | |
|---|---|
| Microsoft Corp | |
| Visa | |
| Amazon.Com | |
| Apple | |
| Adobe | |
| Unilever Nv | |
| Danaher Corp | |
| Alphabet | |
| Salesforce.Com | |
| Novozymes A/S - B Shares | |
| Holdings represent 36.78% of portfolio | |
| Top 10 holdings as of 03/31/19 | |
|---|---|
| Microsoft Corp | |
| Visa | |
| Alphabet | |
| Amazon.Com | |
| Adobe | |
| Danaher Corp | |
| Unilever Nv | |
| Apple | |
| Novozymes A/S - B Shares | |
| BD Medical | |
| Holdings represent 36.72% of portfolio | |
Full portfolio
Full portfolio holdings September 2019
| MICROSOFT CORP SEDOL 2588173 | 6.77% |
|---|---|
| APPLE INC SEDOL 2046251 | 4.08% |
| VISA INC-CLASS A SHARES SEDOL B2PZN04 | 3.80% |
| AMAZON.COM INC SEDOL 2000019 | 3.36% |
| UNILEVER NV SEDOL B1527V7 | 3.21% |
| ADOBE INC SEDOL 2008154 | 2.90% |
| DANAHER CORP SEDOL 2250870 | 2.58% |
| HOME DEPOT INC SEDOL 2434209 | 2.58% |
| BANK OF AMERICA CORP SEDOL 2295677 | 2.47% |
| BLACKROCK INC SEDOL 2494504 | 2.40% |
| WALMART INC SEDOL 2936921 | 2.09% |
| SALESFORCE.COM INC SEDOL 2310525 | 2.09% |
| HILTON WORLDWIDE HOLDINGS IN SEDOL BYVMW06 | 1.94% |
| NOVOZYMES A/S-B SHARES SEDOL B798FW0 | 1.88% |
| BECTON DICKINSON AND CO SEDOL 2087807 | 1.85% |
| HONEYWELL INTERNATIONAL INC SEDOL 2020459 | 1.82% |
| ALPHABET INC-CL C SEDOL BYY88Y7 | 1.82% |
| FIDELITY NATIONAL INFO SERV SEDOL 2769796 | 1.81% |
| NXP SEMICONDUCTORS NV SEDOL B505PN7 | 1.80% |
| CHIPOTLE MEXICAN GRILL INC SEDOL B0X7DZ3 | 1.78% |
| AES CORP SEDOL 2002479 | 1.76% |
| ACCENTURE PLC-CL A SEDOL B4BNMY3 | 1.75% |
| LINDE PLC SEDOL BZ12WP8 | 1.72% |
| HASBRO INC SEDOL 2414580 | 1.63% |
| AXA SA SEDOL 7088429 | 1.62% |
| THERMO FISHER SCIENTIFIC INC SEDOL 2886907 | 1.57% |
| HEINEKEN NV SEDOL 7792559 | 1.53% |
| KONINKLIJKE DSM NV SEDOL B0HZL93 | 1.50% |
| NEXTERA ENERGY INC SEDOL 2328915 | 1.37% |
| ROPER TECHNOLOGIES INC SEDOL 2749602 | 1.34% |
| JOHNSON CONTROLS INTERNATION SEDOL BY7QL61 | 1.34% |
| TEXAS INSTRUMENTS INC SEDOL 2885409 | 1.31% |
| COOPER COS INC/THE SEDOL 2222631 | 1.29% |
| DOCUSIGN INC SEDOL BFYT7B7 | 1.28% |
| VERTEX PHARMACEUTICALS INC SEDOL 2931034 | 1.27% |
| BALL CORP SEDOL 2073022 | 1.27% |
| LOWES COMPANIES INC | 1.24% |
| SERVICENOW INC SEDOL B80NXX8 | 1.24% |
| UNION PACIFIC CORP SEDOL 2914734 | 1.22% |
| MCCORMICK & CO-NON VTG SHRS SEDOL 2550161 | 1.18% |
| STANLEY BLACK & DECKER INC SEDOL B3Q2FJ4 | 1.15% |
| PRUDENTIAL PLC SEDOL 0709954 | 1.14% |
| ON SEMICONDUCTOR CORP SEDOL 2583576 | 1.09% |
| ADIDAS AG SEDOL 4031976 | 1.03% |
| VAIL RESORTS INC SEDOL 2954194 | 0.99% |
| ALPHABET INC-CL A SEDOL BYVY8G0 | 0.98% |
| TALEND SA - ADR SEDOL BD39HN6 | 0.95% |
| PENUMBRA INC SEDOL BZ0V201 | 0.91% |
| WEBSTER FINANCIAL CORP SEDOL 2945143 | 0.81% |
| OKTA INC SEDOL BDFZSP1 | 0.76% |
| TJX COMPANIES INC SEDOL 2989301 | 0.75% |
| LEVI STRAUSS & CO- CLASS A SEDOL BHRWS81 | 0.74% |
| ETSY INC SEDOL BWTN5N1 | 0.70% |
| FIRST SOLAR INC SEDOL B1HMF22 | 0.66% |
| FIRST REPUBLIC BANK/CA SEDOL B4WHY15 | 0.62% |
| ASML HOLDING NV-NY REG SHS SEDOL B908F01 | 0.60% |
| PINTEREST INC- CLASS A SEDOL BJ2Z0H2 | 0.57% |
| KROGER CO SEDOL 2497406 | 0.56% |
| ECOLAB INC SEDOL 2304227 | 0.56% |
| AMGEN INC SEDOL 2023607 | 0.50% |
| EQT AB SEDOL BJ7W9K4 | 0.39% |
| ULTA BEAUTY INC SEDOL B28TS42 | 0.37% |
| OPORTUN FIN CORP P/P | 0.14% |
| TREASURY BILL 00.0000 03/12/2020 | 0.03% |
| EUR/USD 12/18/2019 JPMCB | 0.01% |
| EUR/USD 12/18/2019 UBS | 0.01% |
| EUR/USD 12/18/2019 SSBT | 0.00% |
| GLOBAL FASHION GRP P/P | 0.00% |
| GBP/USD 12/18/2019 BCAP-FX | 0.00% |
| HC BRILLANT SERVICES GMBH P/P | 0.00% |
| NEURALSTEM INC SERIES K COMMON STOCK PURCHASE WARRANT | 0.00% |
| NEW BIGFOOT OTHER ASSETS GMBH P/P | 0.00% |
| NEW MIDDLE EAST OTHER ASSETS GMBH P/P | 0.00% |
| UNEXT.COM LLC CORP (PRIVATE) P/P | 0.00% |
| GBP/USD 12/18/2019 BANKAM | -0.00% |
Full portfolio holdings July 2019
| MICROSOFT CORP SEDOL 2588173 | 6.84% |
|---|---|
| VISA INC-CLASS A SHARES SEDOL B2PZN04 | 4.21% |
| AMAZON.COM INC SEDOL 2000019 | 3.91% |
| APPLE INC SEDOL 2046251 | 3.77% |
| DANAHER CORP SEDOL 2250870 | 3.31% |
| ADOBE INC SEDOL 2008154 | 3.24% |
| UNILEVER NV SEDOL B1527V7 | 2.99% |
| NOVOZYMES A/S-B SHARES SEDOL B798FW0 | 2.56% |
| BLACKROCK INC SEDOL 2494504 | 2.45% |
| SALESFORCE.COM INC SEDOL 2310525 | 2.42% |
| HOME DEPOT INC SEDOL 2434209 | 2.31% |
| HILTON WORLDWIDE HOLDINGS IN SEDOL BYVMW06 | 1.96% |
| SERVICENOW INC SEDOL B80NXX8 | 1.90% |
| OKTA INC SEDOL BDFZSP1 | 1.82% |
| BANK OF AMERICA CORP SEDOL 2295677 | 1.81% |
| BECTON DICKINSON AND CO SEDOL 2087807 | 1.79% |
| ALPHABET INC-CL C SEDOL BYY88Y7 | 1.76% |
| ACCENTURE PLC-CL A SEDOL B4BNMY3 | 1.70% |
| WALMART INC SEDOL 2936921 | 1.69% |
| NXP SEMICONDUCTORS NV SEDOL B505PN7 | 1.65% |
| LINDE PLC SEDOL BZ12WP8 | 1.65% |
| CHIPOTLE MEXICAN GRILL INC SEDOL B0X7DZ3 | 1.63% |
| HEINEKEN NV SEDOL 7792559 | 1.47% |
| HASBRO INC SEDOL 2414580 | 1.46% |
| THERMO FISHER SCIENTIFIC INC SEDOL 2886907 | 1.45% |
| COOPER COS INC/THE SEDOL 2222631 | 1.43% |
| PENUMBRA INC SEDOL BZ0V201 | 1.37% |
| ROPER TECHNOLOGIES INC SEDOL 2749602 | 1.33% |
| HONEYWELL INTERNATIONAL INC SEDOL 2020459 | 1.30% |
| FIDELITY NATIONAL INFO SERV SEDOL 2769796 | 1.28% |
| JOHNSON CONTROLS INTERNATION SEDOL BY7QL61 | 1.26% |
| PRUDENTIAL PLC SEDOL 0709954 | 1.26% |
| BALL CORP SEDOL 2073022 | 1.21% |
| MCCORMICK & CO-NON VTG SHRS SEDOL 2550161 | 1.16% |
| STANLEY BLACK & DECKER INC SEDOL B3Q2FJ4 | 1.14% |
| LOWES COMPANIES INC | 1.11% |
| AXA SA SEDOL 7088429 | 1.06% |
| VAIL RESORTS INC SEDOL 2954194 | 1.04% |
| DOCUSIGN INC SEDOL BFYT7B7 | 1.04% |
| ADIDAS AG SEDOL 4031976 | 1.03% |
| TEXAS INSTRUMENTS INC SEDOL 2885409 | 1.03% |
| ON SEMICONDUCTOR CORP SEDOL 2583576 | 1.02% |
| KONINKLIJKE DSM NV SEDOL B0HZL93 | 1.00% |
| UNION PACIFIC CORP SEDOL 2914734 | 1.00% |
| NEXTERA ENERGY INC SEDOL 2328915 | 0.99% |
| ALPHABET INC-CL A SEDOL BYVY8G0 | 0.94% |
| VERTEX PHARMACEUTICALS INC SEDOL 2931034 | 0.91% |
| TALEND SA - ADR SEDOL BD39HN6 | 0.89% |
| WEBSTER FINANCIAL CORP SEDOL 2945143 | 0.86% |
| FORTIVE CORP SEDOL BYT3MK1 | 0.85% |
| ICU MEDICAL INC SEDOL 2451918 | 0.82% |
| AES CORP SEDOL 2002479 | 0.72% |
| LEVI STRAUSS & CO- CLASS A SEDOL BHRWS81 | 0.72% |
| TJX COMPANIES INC SEDOL 2989301 | 0.71% |
| FIRST SOLAR INC SEDOL B1HMF22 | 0.71% |
| SUMMIT MATERIALS INC -CL A SEDOL BW9JPS4 | 0.69% |
| FIRST REPUBLIC BANK/CA SEDOL B4WHY15 | 0.61% |
| PINTEREST INC- CLASS A SEDOL BJ2Z0H2 | 0.60% |
| ECOLAB INC SEDOL 2304227 | 0.55% |
| ASML HOLDING NV-NY REG SHS SEDOL B908F01 | 0.52% |
| ETSY INC SEDOL BWTN5N1 | 0.42% |
| DXC TECHNOLOGY CO SEDOL BYXD7B3 | 0.40% |
| METTLER-TOLEDO INTERNATIONAL SEDOL 2126249 | 0.28% |
| OPORTUN FIN CORP P/P SERIES H PFD | 0.10% |
| OPORTUN FIN G-1 PFD CV P/P | 0.03% |
| OPORTUN FIN CORP P/P | 0.03% |
| TREASURY BILL 00.0000 08/13/2019 | 0.03% |
| OPORTUN FIN F-1 PFD CV P/P | 0.03% |
| EUR/USD 09/18/2019 JPMCB | 0.02% |
| GBP/USD 09/18/2019 BANKAM | 0.02% |
| EUR/USD 09/18/2019 UBS | 0.01% |
| OPORTUN FIN F PFD CV P/P | 0.01% |
| EUR/USD 09/18/2019 SSBT | 0.01% |
| OPORTUN FIN D-1 PFD CV P/P | 0.00% |
| OPORTUN FIN C-1 PFD CV P/P | 0.00% |
| OPORTUN FIN E-1 PFD CV P/P | 0.00% |
| OPORTUN FIN B-1 PFD CV P/P | 0.00% |
| GLOBAL FASHION GRP P/P | 0.00% |
| GBP/USD 09/18/2019 BCAP-FX | 0.00% |
| HC BRILLANT SERVICES GMBH P/P | 0.00% |
| NEURALSTEM INC SERIES K COMMON STOCK PURCHASE WARRANT | 0.00% |
| NEW BIGFOOT OTHER ASSETS GMBH P/P | 0.00% |
| NEW MIDDLE EAST OTHER ASSETS GMBH P/P | 0.00% |
| OPORTUN FIN A-1 PFD CV P/P | 0.00% |
| UNEXT.COM LLC CORP (PRIVATE) P/P | 0.00% |
Portfolio composition as of 06/30/19
| Common stock | 95.41% |
|---|---|
| Cash and net other assets | 4.41% |
| Convertible preferred stock | 0.18% |
Equity statistics as of 06/30/19
| Median market cap | $22.67B |
|---|---|
| Weighted average market cap | $235.96B |
| Price to book | 5.37 |
| Price to earnings | 23.53 |
Fund characteristics will vary over time.
Due to rounding, percentages may not equal 100%.
Consider these risks before investing: 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. Growth stocks may be more susceptible to earnings disappointments, and the market may not favor growth-style investing. Investments in small and/or midsize companies increase the risk of greater price fluctuations. International investing involves currency, economic, and political risks. Emerging-market securities have illiquidity and volatility risks. The fund's investment strategy of investing in companies that exhibit a commitment to sustainable business practices may result in the fund investing in securities or industry sectors that underperform the market as a whole or underperform other funds that do not invest with a sustainable focus. 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. In evaluating an investment opportunity, we may make investment decisions based on information and data that is incomplete or inaccurate. Due to changes in the products or services of the companies in which the fund invests, the fund may temporarily hold securities that are inconsistent with its sustainable investment criteria. You can lose money by investing in the fund.
Top industry sectors as of 06/30/19
| Information technology | 34.77% |
|---|---|
| Consumer discretionary | 15.79% |
| Health care | 11.79% |
| Materials | 7.98% |
| Financials | 7.14% |
| Consumer staples | 7.05% |
| Industrials | 6.37% |
| Cash and net other assets | 4.41% |
| Communication services | 2.99% |
| Other | 1.71% |
0
The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.
Sectors will vary over time.
Expenses
Expense ratio |
Class A | Class B | Class C | Class M | Class R | Class R6 | Class Y |
|---|---|---|---|---|---|---|---|
| Total expense ratio | 0.99% | 1.74% | 1.74% | 1.49% | 1.24% | 0.61% | 0.74% |
| What you pay | 0.99% | 1.74% | 1.74% | 1.49% | 1.24% | 0.61% | 0.74% |
Sales charge
| Breakpoint | Class A | Class B | Class C | Class M | Class R | Class R6 | Class Y |
|---|---|---|---|---|---|---|---|
| $0-$49,999 | 5.75% / 5.00% | 0.00% / 4.00% | 0.00% / 1.00% | 3.50% / 3.00% | -- | -- | -- |
| $50,000-$99,999 | 4.50% / 3.75% | 0.00% / 4.00% | 0.00% / 1.00% | 2.50% / 2.00% | -- | -- | -- |
| $100,000-$249,999 | 3.50% / 2.75% | -- | 0.00% / 1.00% | 1.50% / 1.00% | -- | -- | -- |
| $250,000-$499,999 | 2.50% / 2.00% | -- | 0.00% / 1.00% | 1.00% / 1.00% | -- | -- | -- |
| $500,000-$999,999 | 2.00% / 1.75% | -- | 0.00% / 1.00% | 1.00% / 1.00% | -- | -- | -- |
| $1M-$4M | 0.00% / 1.00% | -- | -- | -- | -- | -- | -- |
| $4M-$50M | 0.00% / 0.50% | -- | -- | -- | -- | -- | -- |
| $50M+ | 0.00% / 0.25% | -- | -- | -- | -- | -- | -- |
CDSC
| Class A (sales for $1,000,000+) | Class B | Class C | Class M | Class R | Class R6 | Class Y | |
|---|---|---|---|---|---|---|---|
| 0 to 9 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- | -- |
| 9 to 12 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- | -- |
| 2 yrs. | 0.00% | 4.00% | 0.00% | -- | -- | -- | -- |
| 3 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- | -- |
| 4 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- | -- |
| 5 yrs. | 0.00% | 2.00% | 0.00% | -- | -- | -- | -- |
| 6 yrs. | 0.00% | 1.00% | 0.00% | -- | -- | -- | -- |
| 7+ yrs. | 0.00% | 0.00% | 0.00% | -- | -- | -- | -- |
Trail commissions
| Class A | Class B | Class C | Class M | Class R | Class R6 | Class Y | |
|---|---|---|---|---|---|---|---|
| 0.25% | 0.25% | 1.00% | 0.65% | 0.50% | 0.00% | 0.00% | |
| NA | NA | NA | NA | NA | NA | NA | |
| NA | NA | NA | NA | NA | NA | NA |
For sales and trail commission information on purchases over $1 million and participant-directed qualified retirement plans, see a Putnam fund prospectus and the statement of additional information.
The Russell 3000 Growth Index is an unmanaged index of those companies in the broad-market Russell 3000 Index chosen for their growth orientation. You cannot invest directly in an index.
Consider these risks before investing: 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. Growth stocks may be more susceptible to earnings disappointments, and the market may not favor growth-style investing. Investments in small and/or midsize companies increase the risk of greater price fluctuations. International investing involves currency, economic, and political risks. Emerging-market securities have illiquidity and volatility risks. The fund's investment strategy of investing in companies that exhibit a commitment to sustainable business practices may result in the fund investing in securities or industry sectors that underperform the market as a whole or underperform other funds that do not invest with a sustainable focus. 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. In evaluating an investment opportunity, we may make investment decisions based on information and data that is incomplete or inaccurate. Due to changes in the products or services of the companies in which the fund invests, the fund may temporarily hold securities that are inconsistent with its sustainable investment criteria. You can lose money by investing in the fund.