U.S. Large Cap Value Equity

The strategy seeks to outperform the market over time by employing a value-oriented approach to identify potential opportunities for revaluation or fundamental improvement.*

Product highlights

Inception date

December 31, 1992

Benchmark

Russell 1000 Value Index

Total strategy assets

$16.5B

(as of September 2019)

Investment vehicles

  • Separate account
  • A disciplined process that combines fundamental research and quantitative tools to pursue multiple alpha sources, with a strong overlay of risk control in portfolio construction.
  • A focus on companies' ability and willingness to return capital to shareholders
  • A veteran manager whose experience with both U.S. and non-U.S. value strategies provides critical global insight for analyzing the large-cap value equity universe

*No assurance can be given that the investment objective will be achieved or that an investor will receive a return of all or part of his or her initial investment. Actual results could be materially different from the stated goals. Investors should carefully consider the risks involved before deciding to invest. See the composite disclosures for a summary of risk considerations. As with any investment, there is a potential for profit as well as the possibility of loss.

Assets may include accounts that are not reflected in the composite.

Investment team

Performance

Annualized composite performance (%) as of September 30, 2019

  MTD QTD YTD 1 Year 3 Years 5 Years 10 Years
U.S. Large Cap Value Equity (gross) 3.58% 2.82% 20.28% 3.57% 12.11% 9.40% 12.56%
U.S. Large Cap Value Equity (net) 3.52% 2.64% 19.65% 2.85% 11.33% 8.63% 11.77%
Russell 1000 Value Index 3.57% 1.36% 17.81% 4.00% 9.43% 7.79% 11.46%

Calendar Year Composite Performance (%) as of September 30, 2019

  2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
U.S. Large Cap Value Equity (gross) -7.54% 19.81% 14.65% -2.26% 13.57% 33.00% 20.27% 2.90% 13.62% 28.78%
U.S. Large Cap Value Equity (net) -8.18% 18.97% 13.84% -2.94% 12.78% 32.07% 19.43% 2.18% 12.82% 27.90%
Russell 1000 Value Index -8.27% 13.66% 17.34% -3.83% 13.45% 32.53% 17.51% 0.39% 15.51% 19.69%

Past performance is not a guarantee of future results. An investment in this strategy could lose value. Most recent month-end performance is preliminary. Returns are subject to change. Please refer to the composite report for additional important information regarding performance disclosures and investments risks.

Periods less than one year are not annualized. Performance is stated in U.S. dollars.

Literature

Important disclosures

The Putnam Investments U.S. Large Cap Value Equity Composite (the "Composite") seeks to achieve superior long-term performance versus its benchmark, the Russell 1000 Value Index, while maintaining relatively low volatility. The strategy employs an actively managed, broadly diversified, large-cap value equity investing style that seeks to provide capital growth and current income. The Composite comprises all fully discretionary accounts managed by Putnam Investments in this investment style. The Composite creation date was October 2, 2002.

The Russell 1000 Value Index measures the performance of the Russell 1000 companies with lower price-to-book ratios and lower forecasted growth values.

Composites may include portfolios with certain existing investment restrictions that the Firm believes do not materially impact the investment strategy. Benchmarks are generally taken from published sources and may have different calculation methodologies, pricing times, and/or foreign-exchange sources from the composite. The effect of those differences is generally deemed to be immaterial. The securities holdings of the Composite may differ materially from those of the index used for comparative purposes. Composites and benchmarks include the reinvestment of dividends and other earnings. Indexes are unmanaged and do not incur expenses. You cannot invest directly in an index. Gross-of-fees returns do not include the deduction of management fees and other expenses that may be incurred in managing an investment account. A portfolio's return will be reduced by advisory and other fees. Net-of-fee returns are calculated using a model fee. For the applicable time periods, net-of-fees returns reflect either the deduction of the highest management fee that is paid by a portfolio in the Composite during the performance period, applied on a monthly basis, or the deduction of the highest applicable management fee in effect during the performance period that would be charged based on the fee schedule appropriate to this mandate, without the benefit of breakpoints, applied on a monthly basis, whichever is higher. Net-of-fee calculation methodology may change over time. Actual investment advisory fees incurred by clients are typically negotiated on an individual basis and may vary depending upon, among other things, the applicable fee schedule and portfolio size. Our standard fee schedules are available upon request.