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Multi-Cap Core Fund (Class A)  (PMYAX)

Seeking opportunities across a wide range of stocks

Multi-Cap Core Fund received an  Overall Morningstar Rating  of  

Highlights

Objective

The fund seeks capital appreciation.

Strategy and process

  • "Go anywhere" approach: The fund invests in stocks of U.S. companies of all sizes and has the flexibility to own both growth and value stocks.
  • A disciplined process: The portfolio managers use a disciplined, fundamental investment process with three buckets of idea generation: legacy companies, smart-money indicators, and special situations.
  • Research focus: Backed by an Equity Research team, the portfolio managers use their stock-picking expertise to identify opportunities and manage risk.

Fund price

Yesterday’s close 52-week high 52-week low
Net asset value $21.22
-1.90% | $-0.41
$24.65
01/26/18
$21.22
12/14/18
Historical fund price

Fund facts as of 09/30/18

Total net assets
$2,869.34M
Turnover (fiscal year end)
80%
Dividend frequency
Annually
Number of holdings
159
Fiscal year-end
April
CUSIP / Fund code
74676P888 / 0076
Inception date
09/24/10
Category
Blend
Open to new investors
Ticker
PMYAX

Management team

Portfolio Manager
Portfolio Manager, Analyst



Performance

Consistency of positive performance over five years

Performance represents 5-year returns in rolling quarter-end periods since inception.

Performance shown above does not reflect the effects of any sales charges. Note that returns of 0.00% are counted as positive periods. For complete fund performance, please see below.

16.94%

Best 5-year annualized return

(for period ending 09/30/16)


11.00%

Worst 5-year annualized return

(for period ending 03/31/16)


14.36%

Average 5-year annualized return


  • Total return (%) as of 09/30/18

  • Annual performance as of 09/30/18

Annualized Total return (%) as of 09/30/18

Annualized performance 1 yr. 3 yrs. 5 yrs. Life (inception: 09/24/10 )
Before sales charge 16.31% 16.87% 13.45% 15.94%
After sales charge 9.62% 14.58% 12.11% 15.09%
Russell 3000 Index 17.58%17.07%13.46%--

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, and 4.00% and 3.25% for income funds (2.25% and 0.75% for Putnam Short Duration Bond Fund and 1.00% and 0.75% for Putnam Floating Rate Income Fund, Putnam Fixed Income Absolute Return Fund, and Putnam Short-Term Municipal Income 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, Putnam Short Duration Bond Fund, Putnam Fixed Income Absolute Return Fund, and Putnam Short-Term Municipal Income Fund, which is 1% in the first year, declining to 0.5% in the second 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, T1, 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, M, and T1 shares of Putnam money market funds have no initial sales charge. For a portion of the period, some funds had expenses 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 11/30/18 0.75% -5.04%
YTD as of 12/13/18 -3.28% -8.84%

Risk-adjusted performance as of 09/30/18

Alpha (3 yrs.) -0.93
Sharpe ratio (3 yrs.) 1.62
Treynor ratio (3 yrs.) 15.42
Information ratio (3 yrs.) -0.08

Volatility as of 09/30/18

Standard deviation (3 yrs.) 9.92%
Beta 1.04
R-squared 0.93

Capture ratio as of 09/30/18

Up-market (3 yrs.) 100.94
Down-market (3 yrs.) 106.90

Lipper rankings as of 09/30/18

Time period Rank/Funds in category Percentile ranking
1 yr. 277/775 36%
3 yrs. 102/664 16%
5 yrs. 63/564 12%
10 yrs. --  
Lipper category: Multi-Cap Core Funds

Morningstar Ratings as of 09/30/18

Time period Funds in category Morningstar Rating
Overall 1196
3 yrs. 1196
5 yrs. 1058
Morningstar category: Large Blend

Distributions

Record/Ex dividend date 06/20/18
Payable date 06/22/18
Income --
Extra income --
Short-term cap. gain $0.184
Long-term cap. gain $0.245

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.


Holdings

Top 10 holdings as of 09/30/18

Microsoft Corp 5.15%
Apple 4.58%
JPMorgan Chase 2.85%
Alphabet 2.69%
Bank Of America Corp 2.19%
Amazon.Com 1.98%
Cisco Systems 1.91%
Citigroup 1.66%
Amgen 1.46%
Pfizer 1.38%
Top 10 holdings, percent of portfolio 25.85%

Full portfolio holdings as of 09/30/18

MICROSOFT CORP 5.15%
APPLE INC 4.58%
JPMORGAN CHASE & CO 2.85%
BANK OF AMERICA CORP 2.19%
AMAZON.COM INC 1.98%
CISCO SYSTEMS INC 1.91%
ALPHABET INC-CL C 1.76%
CITIGROUP INC 1.66%
AMGEN INC 1.46%
PFIZER INC 1.38%
GOLDMAN SACHS GROUP INC 1.37%
WALMART INC 1.37%
BOEING CO/THE 1.32%
FACEBOOK INC-A 1.27%
BERKSHIRE HATHAWAY INC-CL B 1.26%
JOHNSON & JOHNSON 1.23%
VISA INC-CLASS A SHARES 1.22%
HOME DEPOT INC 1.20%
ROYAL DUTCH SHELL-SPON ADR-A 1.14%
CONOCOPHILLIPS 1.12%
COMCAST CORP-CLASS A 1.06%
WALT DISNEY CO/THE 0.98%
HEALTH CARE SELECT SECTOR 0.95%
INDUSTRIAL SELECT SECT SPDR 0.94%
ALPHABET INC-CL A 0.93%
INTEL CORP 0.86%
NRG ENERGY INC 0.86%
AT&T INC 0.85%
BIOGEN INC 0.85%
GILEAD SCIENCES INC 0.84%
PEPSICO INC 0.84%
BAXTER INTERNATIONAL INC 0.83%
LOWES COMPANIES INC 0.83%
HCA HEALTHCARE INC 0.81%
HUMANA INC 0.80%
ORACLE CORP 0.80%
MASTERCARD INC - A 0.75%
BEST BUY CO INC 0.72%
NORFOLK SOUTHERN CORP 0.72%
JAZZ PHARMACEUTICALS PLC 0.71%
TARGET CORP 0.71%
PULTEGROUP INC 0.70%
VALERO ENERGY CORP 0.70%
CAPITAL ONE FINANCIAL CORP 0.69%
CATERPILLAR INC 0.69%
CVS HEALTH CORP 0.68%
ENTERGY CORP 0.68%
AMERIPRISE FINANCIAL INC 0.67%
EXELON CORP 0.67%
DOWDUPONT INC 0.62%
HP INC 0.62%
PENN NATIONAL GAMING INC 0.62%
INTL BUSINESS MACHINES CORP 0.60%
LIVE NATION ENTERTAINMENT IN 0.60%
SOUTHWEST AIRLINES CO 0.60%
ADOBE SYSTEMS INC 0.58%
APPLIED MATERIALS INC 0.58%
KROGER CO 0.58%
LEAR CORP 0.58%
ENTERPRISE PRODUCTS PARTNERS 0.55%
LAM RESEARCH CORP 0.55%
CIGNA CORP 0.54%
MARATHON OIL CORP 0.53%
WALGREENS BOOTS ALLIANCE INC 0.53%
BECTON DICKINSON AND CO 0.51%
EASTERLY GOVERNMENT PROPERTI 0.51%
EMERSON ELECTRIC CO 0.51%
EXXON MOBIL CORP 0.51%
AIR CANADA 0.50%
MCKESSON CORP 0.50%
MGM RESORTS INTERNATIONAL 0.50%
STATE STREET CORP 0.50%
UNITED RENTALS INC 0.50%
CELANESE CORP 0.49%
SUNCOR ENERGY INC 0.49%
HYATT HOTELS CORP - CL A 0.48%
PIRELLI & C SPA 0.48%
SUNTRUST BANKS INC 0.48%
TEXAS INSTRUMENTS INC 0.47%
CF INDUSTRIES HOLDINGS INC 0.46%
GENERAL MOTORS CO 0.46%
REPUBLIC SERVICES INC 0.46%
COSTCO WHOLESALE CORP 0.45%
KENNEDY-WILSON HOLDINGS INC 0.45%
FREEPORT-MCMORAN INC 0.44%
RAYMOND JAMES FINANCIAL INC 0.44%
ASSURED GUARANTY LTD 0.43%
SPIRIT AEROSYSTEMS HOLD-CL A 0.43%
CBRE GROUP INC - A 0.42%
LINCOLN NATIONAL CORP 0.42%
DXC TECHNOLOGY CO 0.41%
ARMADA HOFFLER PROPERTIES IN 0.40%
GAP INC/THE 0.40%
DELL TECHNOLOGIES INC-CL V 0.38%
AMERICAN INTERNATIONAL GROUP 0.37%
FIRSTENERGY CORP 0.37%
TOTAL SA-SPON ADR 0.37%
WYNDHAM HOTELS & RESORTS INC 0.37%
EASTMAN CHEMICAL CO 0.36%
BRUNSWICK CORP 0.35%
TENET HEALTHCARE CORP 0.35%
EASTERLY ACQUISITION CORP 0.34%
FEDEX CORP 0.34%
MORGAN STANLEY 0.34%
TPG PACE HOLDINGS CORP 0.33%
KKR & CO INC -A 0.32%
BANK OF NEW YORK MELLON CORP 0.31%
ENCANA CORP 0.31%
ORION ENGINEERED CARBONS SA 0.31%
PRUDENTIAL FINANCIAL INC 0.31%
DELIVERY HERO AG 0.30%
DELTA AIR LINES INC 0.30%
COCA-COLA CO/THE 0.29%
MICHAELS COS INC/THE 0.29%
HANESBRANDS INC 0.28%
KIMBERLY-CLARK CORP 0.28%
NOMAD FOODS LTD 0.28%
ENERGIZER HOLDINGS INC 0.27%
TERADYNE INC 0.26%
LIBERTY GLOBAL PLC-A 0.25%
UNION PACIFIC CORP 0.25%
DIAMONDBACK ENERGY INC 0.24%
EQUITY COMMONWEALTH 0.24%
INVESCO LTD 0.24%
J2 ACQUISITION LTD 0.24%
KINDER MORGAN INC 0.24%
US XPRESS ENTERPRISES INC -A 0.24%
LARGO RESOURCES LTD 0.22%
RADIAN GROUP INC 0.22%
FEDERAL STREET ACQUISITION 0.21%
APOLLO GLOBAL MANAGEMENT - A 0.20%
MOLSON COORS BREWING CO -B 0.20%
PLAINS GP HOLDINGS LP-CL A 0.20%
BECTON DICKINSON AND CO 06.1250 CUM CV PFD 0.19%
ALIGNVEST ACQUISITION II C-A 0.18%
BLOOMIN' BRANDS INC 0.17%
QUALCOMM INC 0.17%
ANADARKO PETROLEUM CORP 0.16%
DISCOVERY INC - A 0.16%
KIMBELL ROYALTY PARTNERS LP 0.16%
HAYMAKER ACQUISITION CORP 0.13%
HILLTOP HOLDINGS INC 0.13%
GREEN BRICK PARTNERS INC 0.12%
YEXT INC 0.12%
CAPITOL INVESTMENT CORP IV 0.11%
BRIGHTVIEW HOLDINGS INC 0.10%
GORES HOLDINGS II INC 0.10%
MAGNA INTERNATIONAL INC 0.10%
MICRON TECHNOLOGY INC 0.10%
PETIQ INC 0.10%
PRIORITY TECHNOLOGY HOLDINGS 0.09%
RA MEDICAL SYSTEMS INC 0.06%
US FOODS HOLDING CORP 0.05%
NLIGHT INC 0.04%
RED ROBIN GOURMET BURGERS 0.04%
EASTERLY ACQ CORP - CW20 0.02%
GLOBAL FASHION GRP P/P 0.01%
J2 ACQUISITION LTD-CW20 0.01%
S&P500 EMINI FUT DEC18 ESZ8 0.01%
ALIGNVEST ACQUISITION - CW 0.00%
EMIN RUSSELL 2000 DEC18 RTYZ8 0.00%
HC BRILLANT SERVICES GMBH P/P 0.00%
NEW BIGFOOT OTHER ASSETS GMBH P/P 0.00%
NEW MIDDLE EAST OTHER ASSETS GMBH P/P 0.00%
POUND STERLING CALL ACCOUNT 0.00%
THE EURO EUR CALL ACCOUNT 0.00%
VISTA OIL & GAS -CW22 0.00%
CANADIAN DOLLAR ACCOUNT -0.02%

Prior top 10 holdings

Top 10 holdings as of 09/30/18
Microsoft Corp
Apple
JPMorgan Chase
Alphabet
Bank Of America Corp
Amazon.Com
Cisco Systems
Citigroup
Amgen
Pfizer
Holdings represent 25.85% of portfolio
Top 10 holdings as of 08/31/18
Microsoft Corp
Apple
Alphabet
JPMorgan Chase
Bank Of America Corp
Amazon.Com
Cisco Systems
Citigroup
Boeing The
Goldman Sachs Group The
Holdings represent 26.22% of portfolio
Top 10 holdings as of 07/31/18
Microsoft Corp
Apple
JPMorgan Chase
Alphabet
Bank of America
Amazon
Cisco Systems
Citigroup
Boeing
Walmart
Holdings represent 25.62% of portfolio
Top 10 holdings as of 06/30/18
Microsoft Corp
Apple
Alphabet
JPMorgan Chase
Bank of America
Cisco Systems
Amazon
Citigroup
Facebook
Boeing
Holdings represent 25.35% of portfolio

Portfolio composition as of 09/30/18

Common stock 96.69%
Cash and net other assets 3.12%
Convertible preferred stock 0.19%

Equity statistics as of 09/30/18

Median market cap $22.85B
Weighted average market cap $247.50B
Price to book 2.93
Price to earnings 14.44

Fund characteristics will vary over time.

Due to rounding, percentages may not equal 100%.

Consider these risks before investing: 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. Stock prices may fall or fail to rise over time for several reasons, including general financial market conditions, changing market perceptions, changes in government intervention in the financial markets, and factors related to a specific issuer or industry. 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 09/30/18

Information technology 20.24%
Financials 17.07%
Health care 12.82%
Consumer discretionary 11.71%
Industrials 7.89%
Communication services 7.85%
Energy 6.59%
Consumer staples 5.18%
Cash and net other assets 3.12%
 
Other
7.53%
Materials 2.90%
Utilities 2.61%
Real estate 2.02%

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 1.02% 1.77% 1.77% 1.52% 1.27% 0.67% 0.77%
What you pay 1.02% 1.77% 1.77% 1.52% 1.27% 0.67% 0.77%

Sales charge

Investment Breakpoint Class A Class B Class C Class M Class R Class R6 Class Y
$0-$49,999 5.75% 0.00% 0.00% 3.50% -- -- --
$50,000-$99,999 4.50% 0.00% 0.00% 2.50% -- -- --
$100,000-$249,999 3.50% -- 0.00% 1.50% -- -- --
$250,000-$499,999 2.50% -- 0.00% 1.00% -- -- --
$500,000-$999,999 2.00% -- 0.00% 1.00% -- -- --
$1M-$4M 0.00% -- -- -- -- -- --
$4M-$50M 0.00% -- -- -- -- -- --
$50M+ 0.00% -- -- -- -- -- --

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% -- -- -- --

The Russell 3000 Index is an unmanaged index of the 3,000 largest U.S. companies. You cannot invest directly in an index.

Consider these risks before investing: 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. Stock prices may fall or fail to rise over time for several reasons, including general financial market conditions, changing market perceptions, changes in government intervention in the financial markets, and factors related to a specific issuer or industry. 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.