![]() More recent returns may be less or more than those shown. Past performance does not guarantee future results. MSCI EAFE Value Index (ND) is an unmanaged index that measures the performance of equity securities representing the value style in countries within Europe, Australasia, and the Far East.ĭata represent past performance. We would also like to extend a welcome to new shareholders of the fund and to thank all of our investors for your continued confidence in Putnam.įor a portion of the periods, the fund had expense limitations, without which returns would have been lower. Domotorffy, who until year-end 2011 was a Partner, Chief Investment Officer, and Global Head of Quantitative Investment Strategies at Goldman Sachs Asset Management, currently serves as a member of the Anne Ray Charitable Trust’s Investment Committee, Margaret A. Cargill Philanthropies, and director for Reach Out and Read of Greater New York, an organization dedicated to promoting early childhood literacy. ![]() Ahamed, who in 2010 won the Pulitzer Prize for History with his book, Lords of Finance: The Bankers Who Broke the World, also serves on the Board of Aspen Insurance and the Board of the Rohatyn Group, an emerging-market fund complex that manages money for institutional investors. We would like to take this opportunity to announce the arrival of two new Trustees, Liaquat Ahamed and Katinka Domotorffy, CFA, to your fund’s Board of Trustees. As the investment climate slowly improves, it is important for you to rely on the expertise of your financial advisor, who can help you work toward your financial goals. Markets worldwide are starting to recognize that macroeconomic data are beginning to stabilize and even exhibit nascent signs of growth. Still, the significant risks - the fiscal cliff, a “hard landing” in China, and the dissolution of the European Union - have abated in the past few months.Ĭlarity and greater certainty are positive developments for investors. Of course, challenges remain, including the upcoming debate over the debt ceiling at the end of March. “fiscal cliff” diminished, investors now have some measure of clarity heading into 2013. ![]()
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