Putnam Voyager Fund

Scorecard
2 / 5 Stars
Lipper
3 1 1 4 5
Zacks Investment Research
1 (Strong Buy)
Standard & Poor's
2 / 5 Stars
TheStreet.com
C- (Hold)

U.S. News evaluated 466 Large Growth Funds. Our list highlights the top-rated funds for long-term investors based on the ratings of leading fund industry researchers.

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Note: Profile written for different share class.

Performance

The fund has returned 40.57 percent over the past year, 9.35 percent over the past three years, 24.63 percent over the past five years, and 6.88 percent over the past decade.

Trailing Returns Updated 02.28.2014
Year to date 3.7%
1 Year 40.6%
3 Years (Annualized) 9.4%
5 Years (Annualized) 24.6%
10 Years (Annualized) 6.9%

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Summary

For investors in Putnam Voyager, the journey has been getting progressively more enjoyable.

As of March 05, 2014, the fund has assets totaling almost $4.17 billion invested in 231 different holdings. Its portfolio consists primarily of shares of large companies.

Lately, this fund has been putting together some solid numbers. In 2009, for instance, the fund returned an impressive 64 percent. It followed up this performance by beating the broader market by upwards of 5 percentage points last year. Still, outperformance is a relatively new concept for this fund. After a string of bad years, it ousted its management team in 2008. Since then, a new team headed by Nicholas Thakore has done a fine job of repairing the fund's reputation. Lately, the fund has favored the hardware and industrial materials sectors. Notably, names like Apple, Hewlett-Packard, Vedanta Resources, and Ingersoll-Rand are among its top holdings. The fund has returned 40.57 percent over the past year and 9.35 percent over the past three years. 

Relative to its peers, this fund focuses on fairly small companies. It is overweight in mid-cap stocks and even dabbles in some small-cap fare. Its average market cap is less than half that of the S&P 500. Another distinguishing characteristic is its turnover ratio, which currently sits at 177 percent. This points to a management team that trades quit a bit. Historically, this fund has had its fair share of disappointing years, a number of which are still reflected in its trailing 10-year returns. The fund has returned 24.63 percent over the past five years and 6.88 percent over the past decade.  

Investment Strategy

According to the fund's prospectus: "We invest mainly in common stocks of midsize and large U.S. companies, with a focus on growth stocks. Growth stocks are issued by companies whose earnings are expected to grow faster than those of similar firms and whose business growth and other characteristics may lead to an increase in stock price. We may consider, among other factors, a company's valuation, financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends when deciding whether to buy or sell investments."

Role in Portfolio

Morningstar calls this fund a "core" holding.

Management

Nicholas Thakore manages the fund.

Fees

Putnam Voyager Fund has an expense ratio of 1.75 percent.

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Risk

Like all stock funds, this one comes with some risks.

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