- Business
- Franklin Templeton ETF Trust - Putnam International Stock ETF (PGRI) is an actively managed exchange-traded fund that seeks capital appreciation by investing at least 80% of its net assets in equity securities of non-U.S. large- and midsize companies located in developed and emerging markets, including common stocks, preferred stocks, depositary receipts, securities of other investment companies, and equity-related instruments; it employs a high-conviction, bottom-up investment approach targeting companies with durable competitive advantages (strong moats), quality management, significant market share, and attractive end markets, while actively managing factor risks to amplify stock-driven returns and benchmarked against the MSCI All Country World ex-US Growth Index. The fund, which lists on NYSE Arca under the ticker PGRI (CUSIP 35473P330), maintains a concentrated portfolio of approximately 28-31 issuers with top holdings such as Taiwan Semiconductor Manufacturing, AstraZeneca, Prudential plc, HOYA Corp, and ASML Holding; sector allocations emphasize industrials (20%), health care (15%), information technology (11%), and others including consumer discretionary, communication services, and financials, with geographic exposure to the United Kingdom (24%), France (16%), Japan (14%), China (8%), and the United States (8%).
Launched on October 21, 2025, as part of Franklin Templeton's expansion of its active ETF lineup—which also included the simultaneous introduction of the Templeton International Insights ETF (TINS)—PGRI represents the extension of Putnam Investments' capabilities into the ETF structure following Franklin Templeton's completed acquisition of Putnam on January 1, 2024, for $925 million from Great-West Lifeco, adding $142 billion in assets under management and complementary strategies in areas like large-cap value and retirement-targeted funds. With total net assets of approximately $4.9-5 million, 200,000 shares outstanding, and a net expense ratio of 0.55%, the fund operates from Franklin Templeton's global platform headquartered in San Mateo, California, serving institutional and retail investors seeking international equity exposure outside the U.S.