Franklin Templeton launches Putnam Investments US Large Cap Value Fund for UK Investors

• Putnam’s highly successful strategy with repeatable risk adjusted returns provides investors with greater choice

London, 17 March 2025 – Franklin Templeton¹ is pleased to announce the launch of the FTGF Putnam US Large Cap Value Fund², a sub-fund of the Franklin Templeton Global Funds plc range domiciled in Ireland. The fund adopts the approach of the highly successful Putnam US Large Cap Value Equity Strategy, which has been running since1992 and has $64 billion³ in assets under management. The new fund has been registered for sale in the United Kingdom and is now available to investors.

Harry Reeves, Head of Sales, UK Wholesale said: “In the current market environment, characterised by uncertainty due to political factors, this strategy offers UK investors diversified exposure to the US market with a disciplined approach to blending multiple sources of alpha. As a true value strategy, it has only one Magnificent Seven constituent in its top ten, making it a steady and reliable choice for investors seeking consistent performance. We are seeing strong client appetite for this strategy and believe it will be particularly appealing to platforms, IFAs and wealth managers."

The Putnam US Large Cap Value Fund’s objective is to seek capital appreciation by investing at least 80% of its total assets in equity securities of large cap US companies which the Investment Manager believes are undervalued. Specifically, the portfolio managers will focus on underappreciated stocks that are priced attractively relative to their cash flows and poised for positive change.

The fund’s strategy pursues consistent superior risk-adjusted returns through a disciplined approach to idea generation, portfolio construction, and risk management. The fund is differentiated as follows:

A stock-driven, not style-driven approach

The fund’s portfolio managers believe an approach driven by stock selection offers the most potential for consistent outperformance. The team focus on individual stock selection rather than macroeconomic or style factors, which tend to be more volatile. By employing a bottom-up approach rather than focusing on market factors, the strategy looks to deliver alpha across the market cycle not just in periods of certain market factor drivers, such as ‘value’ or ‘growth’ phases. With a research-intensive approach focused on high-conviction ideas and support from Putnam’s Equity Research team, the team aims to outperform in all markets, including in periods of extreme market declines, market rebounds, and changing interest-rate regimes.

Delivering consistently good, not occasionally great returns

The Putnam US Large Cap Value Equity Strategy has demonstrated consistent risk-adjusted returns regardless of which style is in favour, outperforming its benchmark in nine of the last ten calendar years⁴. It has generated positive excess return in varying market environments while staying true to style with relatively low turnover. As part of their disciplined investment process, the portfolio managers look beyond traditional value metrics to find opportunities across the value universe​.

The new fund will be co-managed by Boston-based Portfolio Managers Darren Jaroch, CFA, and Lauren DeMore, CFA, who have over 24 years of combined experience managing portfolios at Putnam. They are supported by a tenured team of more than 30 research analysts with deep sector expertise. Putnam’s research team includes industry veterans based in Boston, London, and Singapore.

Darren Jaroch commented: “As portfolio managers, we don’t try to predict the duration or magnitude of macroeconomic disruptions or turbulent markets. However, we do analyse the overall market environment in the context of how it affects our individual stock holdings. Our focus is on stock selection, while aiming to keep the portfolio as immune as possible to macroeconomic challenges.”

Lauren DeMore added: “We believe the winners in a value portfolio are those that are underappreciated and undervalued. They are companies that are poised to exceed expectations for earnings and revenue growth, that are more disciplined in their capital expenditures, and that will return more capital to shareholders than anticipated.”

Backed by the scale and resources of Franklin Templeton, the Putnam team comprises over 75 investment professionals, including portfolio managers, fundamental and quantitative analysts, risk managers and traders located in Boston, London and Singapore. Putnam’s investment capabilities cover value, core and growth strategies across US large, small- and multi-caps, as well as global, non-US and dedicated sustainable investment solutions. The firm was recognised in Barron’s “Best Fund Families 2023” for strong investment performance with 86% of its mutual fund assets rated 4 or 5 stars by Morningstar as of 31 December 2024.

For more information please visit: https://www.franklintempleton.co.uk/our-funds/focus-funds/ftgf-putnam-us-large-cap-value-fund

-ENDS-

Contacts:

Saira Khan Senior Corporate Communications Manager Franklin Templeton Investments Cannon Place, 78 Cannon Street London EC4N 6HL Tel: +44 20 7073 8644 Email: [email protected]

Dorine Johnson Head of Corporate Communications EMEA Franklin Templeton Investments Cannon Place, 78 Cannon Street London EC4N 6HL Tel: 0207 073 8538 Email: [email protected]

Notes to Editors:

1. Franklin Resources, Inc. [NYSE:BEN] is a global investment management organisation with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialisation on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and $1.58 trillion in assets under management as of 28 February 2025. For more information, please visit www.franklintempleton.co.uk and follow us on LinkedIn, X, and Facebook.
2. The FTGF Putnam US Large Cap Value Fund is a sub-fund of the Irish domiciled Franklin Templeton Global Funds plc range. FTGF is an open-ended investment company with variable capital, organised as an undertaking for collective investment in transferable securities ('UCITS'). FTGF is authorised in Ireland by the Central Bank of Ireland. Information has been prepared from sources believed reliable. It is not guaranteed in any way by any Franklin Resources, Inc. company or affiliate (together 'Franklin Templeton'). Before investing you should read the application form Prospectus and KID. The fund documents may be obtained free of charge in English, French, German, Italian and Spanish from FTGF's registered office at Riverside Two, Sir John Rogerson's Quay, Grand Canal Dock, Dublin 2, Ireland, from FTGF's administrator, BNY Mellon Fund Services (Ireland) Limited, or can be requested via FT's European Facilities Service which is available at https://www.eifs.lu/franklintempleton, or please visit www.franklintempleton.co.uk to be directed to your local Franklin Templeton website.
   
   The sub-funds of FTGF are notified for marketing in multiple EU Member States under the UCITS Directive. FTGF can terminate such notifications for any share class and/or sub-fund at any time by using the process contained in Article 93a of the UCITS Directive.
3. Source: Putnam Investments as of 28 February 2025
4. Source: Putnam Investments as of 31 December 2024. From 31 December 2014 to 31 December 2024.

This press release is intended to be of general interest only and does not constitute professional advice. Franklin Templeton and its management groups have exercised professional care and diligence in the collection and processing of the information in this press release. Franklin Templeton makes no representations or warranties with respect to the accuracy of this document. Franklin Templeton shall not be liable to any user of this report or to any other person or entity for the inaccuracy of information contained in this press release or for any errors or omissions in its contents, regardless of the cause of such inaccuracy, error or omission.

Any research and analysis contained in this document has been procured by Franklin Templeton for its own purposes.

Please consult your financial advisor before deciding to invest.

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