Putnam Asia Pacific Equity C
Name
As ofPrice
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
N/A
1 yr return
20.6%
3 Yr Avg Return
0.0%
5 Yr Avg Return
1.0%
Net Assets
$7.64 M
Holdings in Top 10
34.9%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 4.24%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover 135.00%
Redemption Fee 1.00%
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As ofPrice
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
PAPCX - Profile
Distributions
- YTD Total Return N/A
- 3 Yr Annualized Total Return 0.0%
- 5 Yr Annualized Total Return 1.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.11%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annually
Fund Details
-
Legal NamePutnam Asia Pacific Equity Fund
-
Fund Family NamePutnam
-
Inception DateJun 12, 2009
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUnited States
Fund Description
The Fund intends to utilize two principal investment strategies: 1) a premium collection strategy involving sale or purchase of put options on the S&P 500 Index and 2) investing in fixed income securities. Under normal market conditions, the adviser intends to allocate between 30% to 100% of the Funds net assets to the premium collection strategy at any given time.
In pursuing its premium collection strategy, the Fund purchases and sells put options on the S&P 500 Index. A put option is a contract giving the owner the right, but not the obligation, to sell a specified amount of an underlying security at a pre-determined price within a specified time frame. The Fund receives premiums for the put options it sells and pays premiums for the put options it purchases. The Fund will realize a gain from its premium collection strategy to the extent that the amount of premium received by the Fund for selling a particular put option is greater than the amount of premium paid by the Fund for purchasing an offsetting put option. The adviser utilizes quantitative models that allow it to determine what it believes is the probability of certain put options expiring worthless; the sale of a put option is typically done at a price that the adviser believes have a 99.5% or greater probability of the puts sold expiring worthless. These models utilize a formula to calculate probabilities by utilizing market data such as real and/or implied volatility as measured by the CBOE Volatility Index (VIX), time to expiration for the option contracts, and the current value of the S&P 500 Index to determine the probability an option will expire worthless. The trades for the Fund are put spreads because an offsetting position is taken for each option contract. Accordingly, the potential risk of the Funds put option positions is well defined. It is desirable that the underlying index remains in a relatively narrow trading range from the time the Fund opens the position until the options expire.
The adviser will seek to further mitigate risk and maximize Fund profits by continuing its proprietary quantitative analysis and monitoring the trade during the term of the contracts; and may close a trade early if it determines 1) the probability of the put or call option expiring worthless declines below a defined probability level (typically 85% or higher), 2) it determines it can close the trade for minimum cost, or 3) it can close the trade early and achieve the target profit objective for such trade.
The Fund also allocates a portion of its assets to a fixed income strategy. In pursuing its fixed income strategy, the Fund may invest in fixed income securities of any maturity. Such fixed income investments will be rated investment grade by Moodys (Baa3 or better) or another rating agency at the time the investment is made. The adviser expects to primarily execute the Funds fixed income strategy by investing in U.S. Treasury bonds. The Fund may also invest in exchange traded funds (ETFs), money market funds or open-end mutual funds that primarily invest in investment grade fixed income securities.
The Fund is required to pledge collateral for the option trades and it will hold cash, treasury bills, money market instruments or other fixed-income securities as collateral for all such options trades. The Funds custodian will segregate such collateral for the benefit of the counterparty. Therefore, the Fund must typically maintain a large percentage of cash and cash equivalents within the Fund. The amount collected by the Fund when opening a trade represents the maximum profit (or premium) for the position.
The adviser considers a variety of factors in determining whether to sell a fixed income investment: changes in market condition, changes in credit quality, changes in prospects for alternative investment possibilities or return opportunities for other fixed income instruments, current return expectation of such security, any changes in interest rates, liquidity of the security, and cash needs of the Fund. If a fixed income investment is downgraded after purchase the adviser may, but is not obligated to, dispose of such investment.
The Fund is diversified for purposes of the Investment Company Act of 1940, as amended (the 1940 Act).
The Fund may also invest a substantial portion of its assets in U.S. Treasury bonds, high-quality short-term debt securities and money market instruments, to maintain liquidity for shareholder redemptions, or to respond to adverse conditions.
Distribution Policy: In order to allow shareholders of the Fund to realize a predictable, but not assured, level of cash flow, the Fund has adopted a policy (which may be modified at any time by its Board of Trustees) to pay quarterly distributions on Fund shares at a target rate that represents an annualized payout of approximately 2.0% on the Funds per-share net asset value on the date of a distributions declaration. Shareholders receiving periodic payments from the Fund may be under the impression that they are receiving net profits. However, all or a portion of a distribution may consist of a return of capital. Shareholders should not assume that the source of a distribution from the Fund is net profit. For more information about the Funds distribution policy, please turn to Additional Information About the Funds Principal Investment Strategies and Related Risks – Principal Investment Strategies –Distribution Policy and Goals section in the Funds Prospectus.
PAPCX - Performance
Return Ranking - Trailing
Period | PAPCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | -4.6% | 19.6% | N/A |
1 Yr | 20.6% | -26.9% | 6.4% | N/A |
3 Yr | 0.0%* | -11.3% | 12.7% | N/A |
5 Yr | 1.0%* | -7.0% | 7.3% | N/A |
10 Yr | N/A* | -3.4% | 17.1% | N/A |
* Annualized
Return Ranking - Calendar
Period | PAPCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -36.5% | -6.6% | N/A |
2022 | N/A | -0.9% | 50.2% | N/A |
2021 | N/A | -14.7% | 17.1% | N/A |
2020 | N/A | -31.2% | 8.8% | N/A |
2019 | N/A | -12.9% | 271.0% | N/A |
Total Return Ranking - Trailing
Period | PAPCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | -4.6% | 19.6% | N/A |
1 Yr | 19.6% | -17.3% | 6.7% | N/A |
3 Yr | 0.0%* | -1.0% | 13.6% | N/A |
5 Yr | 1.0%* | -3.3% | 8.1% | N/A |
10 Yr | N/A* | 3.5% | 18.0% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | PAPCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -29.4% | -4.5% | N/A |
2022 | N/A | 9.4% | 52.2% | N/A |
2021 | N/A | -6.2% | 19.6% | N/A |
2020 | N/A | -31.0% | 15.3% | N/A |
2019 | N/A | -8.2% | 272.0% | N/A |
PAPCX - Holdings
Concentration Analysis
PAPCX | Category Low | Category High | PAPCX % Rank | |
---|---|---|---|---|
Net Assets | 7.64 M | 7.26 M | 9.2 B | N/A |
Number of Holdings | 86 | 35 | 2331 | N/A |
Net Assets in Top 10 | 2.71 M | 2.6 M | 2.73 B | N/A |
Weighting of Top 10 | 34.86% | 10.2% | 53.1% | N/A |
Top 10 Holdings
- Tencent Holdings Ltd 6.17%
- Taiwan Semiconductor Manufacturing Co Ltd 5.54%
- Alibaba Group Holding Ltd ADR 5.28%
- Samsung Electronics Co Ltd 4.59%
- AIA Group Ltd 3.81%
- China Mobile Ltd 2.63%
- Industrial And Commercial Bank Of China Ltd H 1.92%
- Ping An Insurance (Group) Co. of China Ltd 1.73%
- Basso Industry Corp 1.60%
- Bank Of China Ltd H 1.58%
Asset Allocation
Weighting | Return Low | Return High | PAPCX % Rank | |
---|---|---|---|---|
Stocks | 82.14% | 0.00% | 100.00% | N/A |
Cash | 15.78% | -0.14% | 11.45% | N/A |
Other | 2.08% | -0.44% | 2.24% | N/A |
Preferred Stocks | 0.00% | 0.00% | 0.01% | N/A |
Convertible Bonds | 0.00% | 0.00% | 22.69% | N/A |
Bonds | 0.00% | 0.00% | 77.45% | N/A |
PAPCX - Expenses
Operational Fees
PAPCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 4.24% | 0.08% | 3.89% | N/A |
Management Fee | 0.88% | 0.06% | 1.09% | N/A |
12b-1 Fee | 1.00% | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.25% | N/A |
Sales Fees
PAPCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | 1.00% | 1.00% | 1.00% | N/A |
Trading Fees
PAPCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 1.00% | 1.50% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
PAPCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 135.00% | 4.00% | 150.00% | N/A |
PAPCX - Distributions
Dividend Yield Analysis
PAPCX | Category Low | Category High | PAPCX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 0.03% | N/A |
Dividend Distribution Analysis
PAPCX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annually | Annually | Monthly | Annually |
Net Income Ratio Analysis
PAPCX | Category Low | Category High | PAPCX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.11% | -0.93% | 4.03% | N/A |
Capital Gain Distribution Analysis
PAPCX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 27, 2016 | $0.014 | |
Dec 23, 2010 | $0.070 | |
Dec 24, 2009 | $0.082 |