Investment objective & strategy
As of April 28, 2025 · prospectusObjective. The fund seeks long-term capital appreciation.
Strategy. Investments We invest mainly in common stocks (growth or value stocks or both) of emerging market companies of any size that we believe have favorable investment potential. For example, we may purchase stocks of companies with stock prices that reflect a value lower than that which we place on the company. We may also consider other factors that we believe will cause the stock price to rise. Under normal circumstances, we invest at least 80% of the funds net assets in equity securities of emerging market companies. This policy may be changed only after 60 days notice to shareholders. Emerging markets include countries in the MSCI Emerging Market Index or that we consider to be emerging markets based on our … Investments We invest mainly in common stocks (growth or value stocks or both) of emerging market companies of any size that we believe have favorable investment potential. For example, we may purchase stocks of companies with stock prices that reflect a value lower than that which we place on the company. We may also consider other factors that we believe will cause the stock price to rise. Under normal circumstances, we invest at least 80% of the funds net assets in equity securities of emerging market companies. This policy may be changed only after 60 days notice to shareholders. Emerging markets include countries in the MSCI Emerging Market Index or that we consider to be emerging markets based on our evaluation of their level of economic development or the size and nature of their securities markets. We may consider, among other factors, a companys 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. We may also use derivatives, such as futures, options, certain foreign currency transactions, warrants and swap contracts, for both hedging and non-hedging purposes. The fund is non-diversified, which means it may invest a greater percentage of its assets in fewer issuers than a diversified fund. The fund expects to invest in a limited number of issuers.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| TSMC | — | $4.63M | 15.67% |
| SAMSUNG ELECTRONICS CO LTD | — | $2.32M | 7.84% |
| TENCENT HOLDINGS LTD | — | $1.55M | 5.23% |
| ISHARES CORE MSCI EMERGING MUTUAL FUND | IEMG | $1.23M | 4.16% |
| BABA-W | — | $967.12K | 3.28% |
| BANK OF CHINA-H | — | $683.23K | 2.31% |
| ITAU UNIBAN-PREF | — | $612.55K | 2.08% |
| PETROCHINA-H | — | $603.62K | 2.04% |
| KB FINANCIAL GRO | — | $529.63K | 1.79% |
| ICICI BANK LTD | — | $509.34K | 1.73% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Putnam Emerging Markets Equity Fund | 91% | 0.89% |
| Putnam Emerging Markets ex-China ETF | 68% | 0.69% |
| Fidelity SAI Sustainable Emerging Markets Equity Fund · FSSGX | 46% | 0.95% |
Advisers
| Firm | Role |
|---|---|
| Franklin Advisers, Inc. | Sub-adviser |
| Franklin Templeton Investment Management Limited | Sub-adviser |
| Putnam Investment Management, LLC | Adviser |
| The Putnam Advisory Company, LLC | Sub-adviser |
Footnotes
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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