Putting durable growth themes to work
A thematic approach is a distinctive feature of Large Cap Growth 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: Personalized medicine
We are in the very early innings of a shift toward a broader application of personalized medicine, where therapies will be targeted to a particular patient based on that individual’s DNA, RNA, and genetic composition. Many companies are making great strides in cell and gene therapy to help in the diagnosis and treatment of cancers and genetic diseases.
A patient’s genetic makeup will become increasingly more important in the therapy and treatment they receive.
STOCK: Lonza (LONN SW)
Lonza manufactures small- and large-molecule therapies, and opened the world’s largest dedicated cell and gene therapy facility in 2018.
- There are hundreds of cell and gene therapy treatments in various phases of development.
- In order to ramp production and ultimately commercialize these therapies, biopharma companies need contract development manufacturing organizations (CDMOs).
- Rather than trying to forecast at this stage which individual businesses will be successful, we are invested in Lonza, which has a solid CDMO business.
Putnam Large Cap Growth 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 Large Cap Growth 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 Large Cap Growth Fund.
The Morningstar Rating™ 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 ten-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36 to 59 months of total returns, 60% five-year rating/40% three-year rating for 60 to 119 months of total returns, and 50% ten-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the ten-year overall star rating formula seems to give the most weight to the ten-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not take into account the effects of sales charges and loads.
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