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Equity

PMVRX Putnam Sustainable Future Fund

  • Solutions focus. Invests in companies whose products and services provide solutions to key sustainability challenges.
  • Active research process. Integrates relevant and forward-looking sustainability analysis with high-quality fundamental research to drive investment decisions.
  • Integrated, experienced team. Managed by dedicated and experienced sustainable investing team embedded within Putnam's equity research and quantitative/risk analysis groups.

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NAV 1 $-0.09(-0.54%)
$16.51
As of 05/12/2026
YTD Total Returns At NAV 2
-0.42%
As of 05/12/2026
Total Net Assets
$327.39M
As of 04/30/2026 (Updated Monthly)

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Overview

Fund Facts

Fund description

The fund seeks long-term capital appreciation. The fund invests in companies whose products and services provide solutions to key sustainability challenges.

Benchmark
Russell Midcap Growth Index
Additional Benchmark
Putnam Sustainable Future Linked Benchmark
Fund Inception Date
11/01/1999
Dividend Frequency, if any
Annually
Portfolio Turnover
80%

Sales Charges, Expenses & Fees

As of 09/01/2025
Gross Expense Ratio3
1.27%
Net Expense Ratio3,4
1.27%
Maximum Initial Charge
—
CDSC
N/A
12b-1 Fee
0.50%

Identifiers

Ticker
PMVRX
Fund Number
856
CUSIP Code
746802115

Average Annual Total Returns

View performance section for additional info As of 04/30/2026

Class R

  • 12.35%1 Year
  • 12.34%3 Years
  • -0.46%5 Years
  • 8.61%10 Years
  • 9.10%Since Inception
    10/29/1999

Performance data quoted represents past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the figures shown.

Top Sectors

View portfolio section for additional info

As of 04/30/2026 % of Total (Updated Monthly)

Industrials29.91%
Consumer Discretionary21.48%
Information Technology14.23%
Health Care13.99%
Financials8.71%

Additional Fund Info

Share Class Inception Date
04/01/2003
Investment Style
Growth
Lipper Classification
Multi-Cap Growth Funds
Morningstar Category5
Mid-Cap Growth

Manager and Commentary

About the Team

Putnam Investments

Putnam Investments has been serving clients and shareholders for over 85 years. We manage a range of equity portfolios with a focus on stock-specific opportunities. Our approach — stock-driven rather than style-driven — is designed to offer consistent outperformance, regardless of the market environment. Our portfolios are fueled by a variety of independent views and perspectives, enhanced by fundamental research and ongoing dialogue and debate. We combine this with portfolio construction that aims to reduce broader macro exposures and manage downside risk.

Putnam Investments
[Stephanie Dobsons avatar]

Managed Fund Since 2018

[Rob Forkers avatar]

Managed Fund Since 2025

Portfolio Manager Profile
Years of Experience
Manager Location

Latest Insights

May 12, 2026

Emerging markets: Cheap, growing and underowned

April 2, 2026

The opportunity in emerging markets today (Podcast)

February 19, 2026

Strong fundamentals and AI create exciting opportunities for US equities in 2026

January 8, 2026

Quick Thoughts: Venezuela—oil and gas optionality is large, but the rebuild is capital-intensive
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Performance

Ratings 6

Morningstar logo
Overall Morningstar Rating
Overall Morningstar Rating: 2 out of 5 stars  
As of 04/30/2026
3 Years
3 Years: 3 out of 5 stars  
458 Funds in category
5 Years
5 Years: 2 out of 5 stars  
437 Funds in category
10 Years
10 Years: 2 out of 5 stars  
373 Funds in category
Rating Category
Mid-Cap Growth

The fund's overall Morningstar Rating measures risk-adjusted returns and is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics.

The number of funds in the category for the Overall Morningstar Rating are listed in the funds in category for the 3-year rating.

Morningstar Style Box
As of 04/30/2026
Current Historical
Large
Medium
Small
Value Blend Growth
Style
Size

Source: Morningstar®. The style box reveals a fund's investment style. For equity funds, the vertical axis shows the market capitalization of the long stocks owned, and the horizontal axis shows the investment style (value, blend, or growth). For fixed income funds, the vertical axis shows the credit quality based on credit ratings and the horizontal axis shows interest-rate sensitivity as measured by effective duration. Placement is determined by fund portfolio holding figures most recently entered into Morningstar's database and corresponding market conditions. Shaded areas show the past 3 years of quarterly data. Past performance does not guarantee future results.

©2026 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

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Portfolio

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Distributions & Tax

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Pricing

Daily Fund Prices

52-Week Range

Highest NAV As of 10/27/2025
$20.06
Lowest NAV As of 03/30/2026
$14.78
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Documents

Regulatory Documents
 Name Download Add to Cart
Annual Report - Putnam Sustainable Future Fund Class RDownload Document
Annual Financial Statements and Other Information - Putnam Sustainable Future FundDownload Document
Semi-Annual Report - Putnam Sustainable Future Fund - Class RDownload Document
Semi-Annual Financial Statements and Other Information - Putnam Sustainable Future FundDownload Document
Prospectus - Putnam Sustainable Future FundDownload Document
Summary Prospectus - Putnam Sustainable Future FundDownload Document
Statement Of Additional Information - Putnam Sustainable Future Fund.Download Document
Fiscal Q1 Holdings - Putnam Sustainable Future FundDownload Document
Fiscal Q3 Holdings - Putnam Sustainable Future FundDownload Document

Risks

All investments involve risks, including possible loss of principal. The investment style may become out of favor, which may have a negative impact on performance. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. To the extent the portfolio invests in a concentration of certain securities, regions or industries, it is subject to increased volatility. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. The managers' environmental, social and governance (ESG) strategies may limit the types and number of investments available and, as a result, may forgo favorable market opportunities or underperform strategies that are not subject to such criteria. There is no guarantee that the strategy's ESG directives will be successful or will result in better performance. Active management does not ensure gains or protect against market declines. These and other risks are discussed in the fund's prospectus.

Important Information

Total Returns include change in share price, assume reinvestment of all distributions, and reflect the deduction of fund expenses and applicable fees. Total returns, distribution rate, and yields reflect any applicable expense reductions and fee waivers; without these reductions, the results would have been lower.

Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.

Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.

You need Adobe Acrobat Reader to view and print PDF documents. Download a free version from Adobe's website.

Important data provider notices and terms available at www.franklintempletondatasources.com.

Performance data quoted represents past performance, which does not guarantee future results. 

CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.

Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges. 

Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.

The Russell Midcap Growth Index measures the performance of the mid-cap growth segment of the U.S. equity universe.
Source: FTSE.

The Putnam Sustainable Future Linked Benchmark represents the performance of the Russell 3000® Value Index through March 20, 2018, and the performance of the Russell Midcap® Growth Index thereafter.

Putnam funds are not exchangeable for other funds distributed by Franklin Distributors, LLC. 

Franklin Distributors, LLC. Member FINRA/SIPC. Putnam Investment is a Franklin Templeton company. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.

Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov. 

Footnotes

  1. Net Asset Value - the amount per share you would receive if you sold shares that day. NAV Change indicates a change in the Net Asset Value from the previous business day.

  2. Figures are aggregate total return figures, have not been annualized and represent the change in value of an investment over the period indicated.

  3. Gross Expense Ratio reflects the total annual operating expenses for the share class shown, prior to the deduction of any waiver or reimbursement. Actual expenses may be higher and may impact portfolio returns. Net Expense Ratio reflects total expenses after any fee waivers, implemented expense caps or reimbursements. If a fund has contractual fee waivers, expense caps and/or reimbursements, the expiration date can be found by clicking on the information button next to the net expense ratio. Additional amounts may be voluntarily waived and/or reimbursed and may be modified or discontinued at any time without notice. Expense ratios are as of the most recent prospectus or annual report.

  4. Net Expense Ratio represents the expense ratio applicable to investors. 

  5. ©2026 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

  6. The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products with at least a three-year history, and subject to change monthly. 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 is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total return, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total return. While the 10-year overall star rating formula seems to give the most weight to the 10-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. Morningstar Rating is for the specified share class(es) only; other classes may have different performance characteristics. ©2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

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