Putting durable growth themes to work
A thematic approach is a distinctive feature of Putnam Growth Opportunities Fund. The team analyzes global trends, as well as problems and potential solutions, to identify which themes could drive sustained growth for businesses over a multi-year time horizon.
THEME: E-commerce and payment processing
Peer-to-peer electronic money transfers have rapidly become much more common and accepted. E-commerce transactions and one-button checkout are taking share from cash and physical card payments. The U.S. e-commerce market has grown at 16% annually since 2001, well ahead of aggregate retail sales during the same time period.
As of the end of 2018, there were more than 80 million mobile phone peer-to-peer payment users in the United States, according to market research firm eMarketer.
STOCK: PayPal Holdings (PYPL)
PayPal enables businesses and individuals to electronically transfer money and has benefited from the rapid adoption of digital payments.
- PayPal has experienced consistent, mid-teens year-over-year growth in active accounts. We are optimistic about the potential to monetize Venmo, the company’s app that provides peer-to-peer payments.
- User growth for Venmo has been strong, especially among younger users who appreciate the ability to send cash quickly between friends.
Putnam Growth Opportunities Fund
See how investing in companies with durable long-term growth prospects, high and/or improving capital returns, and a strong ownership culture drives 5-star performance as of 5/31/2020.
Get to know Putnam Growth Opportunities Fund
Learn more about the distinctive thematic approach and how the team analyzes global trends to identify which themes could drive sustained growth for Putnam Growth Opportunities Fund.
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