Putnam Global Equity APEQUX

Morningstar Rating

Fund Research and Analysis

by Gregg Wolper

There's no reason to clear space on your watch list for Putnam Global Equity.

This fund has had a few flashes of achievement over the years, with one such period being the three months through July 24, 2009. It's in the top quartile of the world-stock category, and it's handily beating the MSCI World Index over that time. Read more

Kudos

Below-average expense ratio for a world-stock fund with a front load.

Manager has more than $1 million of his own money invested in the fund. Read more

Risks

Although this fund's lead manager has been in place a long time, multiple high-level personnel changes and organizational moves at Putnam in recent years add uncertainty.

Fund's long-term performance isn't impressive. Read more

Strategy

Management looks for stocks trading at a reasonable discount to expected cash flows, with sound growth prospects and a nice return on equity. From mid-2004 to mid-2005, it instituted a significantly altered approach that increased the use of quantitative analysis. Read more

Management

Manager Shigeki Makino, now sole manager, has been on the fund since 1999 and was lead manager of a duo or team most of that time. The most recent comanager, quantitative specialist Bradford Greenleaf, who joined up in late 2004, left in autumn 2008. Read more

Inside Scoop

This fund typically owns large, established companies, though it will own some midsize names and a few small firms. It instituted a more risk-conscious strategy in 2004 and 2005. Read more

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