Equity Income Fund

An active strategy for harnessing the potential of U.S. value stocks

This fund received a Overall Morningstar Rating out of 1,103 funds in the Large Value category as of 06/30/19.

Global expertise

Portfolio Manager Darren Jaroch manages U.S. and international portfolios, giving him broad investing insight. His knowledge of the landscape across global markets enhances his research of U.S. companies and dividend opportunities.

Multiple sources of insight

Darren combines his own analysis with ideas from analysts in Putnam's Equity Research organization and information from quantitative screening and risk-management tools.

A strategic dividend investor

"It's important to differentiate companies that can simply support a dividend from those that can grow that dividend," says Darren of his approach. He focuses on company cash flows, earnings quality, and capital allocation.

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I've always been patient and disciplined. And I think those traits have served me well as an investor.

Darren A. Jaroch, CFA
Portfolio Manager  |  Industry since 1996

23

years in the investment industry

20

years managing value portfolios at Putnam

35

analysts provide support for Darren's research and stock selection process

A multidimensional approach to value investing

A distinct feature of Putnam Equity Income Fund is Darren's multidimensional strategy. He targets a wider array of opportunities than many other equity income funds. In selecting stocks, he places extra emphasis on businesses that could enhance the fund's capital appreciation potential.

VALUE STOCKS | Attractively priced stocks of companies poised for improvement

DIVIDEND GROWERS | Stocks of companies that are willing and able to increase their dividends

CASH-FLOW GENERATORS | Stocks of companies with strong cash flows, earnings quality, and capital allocation strategies

Value Investing Value Investing

From our equity investment professionals

What happened to value stocks?

What happened to value stocks?

Our views on the valuation spread, why investors don't want value, and which approaches may work best in the changing equity landscape.

Equity Outlook  |  Q3 2019

Talking sustainability with CEOs

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.

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Are international stocks truly cheap?

Are international stocks truly cheap?

On the surface, U.S. stocks appear more expensive than international stocks, but a quantitative comparison reveals the impact of sector valuations.

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