Mutual Fund Summary Prospectus (497k)
April 02 2014 - 6:02AM
Edgar (US Regulatory)
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Summary Prospectus
February 3, 2014,
Revised as of April 1, 2014
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MassMutual Premier Funds
MassMutual Premier Main Street Fund
Ticker:
Class IMSZIX, Class R5MMSSX , Service ClassMMSYX, Administrative ClassMMSLX,
Class AMSSAX, Class R4MSSRX , Class R3MMSNX
Before you invest, you may want to review the Funds prospectus, which contains more information about
the Fund and its risks. You can find the Funds prospectus and other information about the Fund online at www.massmutual.com/funds. You can also get this information at no cost by calling 1-888-309-3539 or by sending an email request to
fundinfo@massmutual.com.
INVESTMENT OBJECTIVE
The Fund seeks a high total return.
FEES AND EXPENSES OF THE
FUND
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales
charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled
Sales Charges by Class
on page 116 of
the Funds Prospectus or from your financial professional.
Shareholder Fees
(fees paid directly from your investment)
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Class I
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Class R5
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Service
Class
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Admini-
strative
Class
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Class A
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Class R4
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Class R3
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Maximum Sales Charge (Load) Imposed on Purchases (as a % of offering price)
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None
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None
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None
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None
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5.75%
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None
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None
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Maximum Deferred Sales Charge (Load) (as a % of the lower of the original offering price or
redemption proceeds)
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None
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None
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None
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None
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None
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None
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None
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Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your
investment)
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Class I
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Class R5
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Service
Class
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Admini-
strative
Class
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Class A
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Class R4
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Class R3
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Management Fees
(1)
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.55%
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.55%
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.55%
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.55%
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.55%
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.55%
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.55%
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Distribution and Service
(Rule 12b-1)
Fees
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None
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None
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None
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None
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.25%
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.25%
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.50%
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Other Expenses
(1)
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.09%
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.19%
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.29%
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.39%
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.39%
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.29%
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.29%
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Total Annual Fund Operating Expenses
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.64%
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.74%
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.84%
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.94%
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1.19%
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1.09%
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1.34%
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(1)
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Management Fees and Other Expenses have been restated to reflect current fees.
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Example
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest
$10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also assumes that your investment
earns a 5% return each year and that the Funds operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
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1 Year
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3 Years
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5 Years
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10 Years
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Class I
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$
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65
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$
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205
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$
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357
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$
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798
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Class R5
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$
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76
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$
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237
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$
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411
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$
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918
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Service Class
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$
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86
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$
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268
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$
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466
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$
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1,037
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Administrative Class
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$
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96
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$
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300
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$
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520
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$
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1,155
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Class A
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$
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689
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$
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931
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$
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1,192
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$
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1,935
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Class R4
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$
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111
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$
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347
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$
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601
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$
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1,329
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Class R3
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$
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136
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$
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425
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$
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734
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$
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1,613
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S-1
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover
rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Funds performance.
During the most recent fiscal year, the Funds portfolio turnover rate was 43% of the average value of its portfolio.
INVESTMENTS, RISKS, AND PERFORMANCE
Principal Investment Strategies
The Fund invests
primarily in common stocks of U.S. companies of different capitalization ranges. The Funds subadviser,
OFI Global Institutional, Inc.
(OFI Global), currently focuses on large capitalization issuers, which are
considered to be companies with market capitalizations at the time of purchase within the market capitalization range of companies included within the Russell 1000
®
Index (as of December 31,
2013, $1.14 billion to $504.48 billion), although it may purchase stocks of companies with any market capitalization. The Fund typically invests most of its assets in equity securities of U.S. companies, but may invest in foreign securities. The
Fund generally will not invest more than 15% of its total assets in foreign securities. The Fund may hold a portion of its assets in cash or cash equivalents.
OFI Global typically uses fundamental research and quantitative models to select securities for the Funds portfolio, which is comprised of both growth
and value stocks. While the process may change over time or vary in particular cases, in general the selection process currently uses:
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a fundamental approach in analyzing issuers based on factors such as a companys financial performance and prospects, industry position, and business model and management strength. OFI Global may also consider
industry outlook, market trends and general economic conditions.
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quantitative models to rank securities within each sector to identify potential buy and sell candidates for further fundamental analysis. A number of company-specific factors are analyzed in constructing the
models, including valuation, fundamentals and momentum.
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The portfolio is constructed and regularly monitored based upon several analytical
tools, including quantitative investment models.
The Fund aims to maintain a broadly diversified portfolio across all major economic sectors by applying
investment parameters for both sector and position size. OFI Global may consider selling a security if, for example, in its judgment, a stocks price is approaching its target, a companys competitive position deteriorates, it believes
that a companys management is executing strategy poorly, or more attractive alternative investment ideas have been identified.
Principal Risks
The following are the Principal Risks of the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.
Cash Position Risk
The ability of the Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise
uninvested.
Foreign Investment Risk; Emerging Markets Risk; Currency Risk
Foreign securities are subject to additional risks compared to
securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of the
Funds shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic,
and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.
Growth Company Risk
The
prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future earnings expectations, and can be more volatile than the market in general.
Liquidity Risk
Certain securities may be difficult (or impossible) to sell or positions difficult to close out at a desirable time and
price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.
Management
Risk
The Fund relies on the managers ability to achieve its investment objective. There can be no assurance that the Fund will achieve the desired results and the Fund may incur significant losses.
Market Risk
The value of the Funds portfolio securities may decline, at times sharply and
S-2
unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods,
subjecting the Fund to unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or
services.
Smaller and
Mid-Cap
Company Risk
Market risk and liquidity risk are particularly
pronounced for securities of smaller companies, which may trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines,
markets, or financial resources and may be dependent on a limited management group; they may have been recently organized and have little or no track record of success.
Valuation Risk
The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its
securities are fair valued.
Value Company Risk
The value investment approach entails the risk that the market will not recognize a
securitys intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.
Performance
Information
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the
Funds performance from year to year for Class R5 shares. The table shows how the Funds average annual returns for 1 year, 5 years, and since inception, compare with those of a broad measure of market performance. Performance
for Class I and Class R4 shares of the Fund for periods prior to their inception date (04/01/14) is based on the performance of Class R5 shares, adjusted for Class R4 shares to reflect Class R4 expenses. Performance for
Class A shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. More
up-to-date
performance information is available at
http://www.massmutual.com/funds or by calling
1-888-309-3539
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Annual Performance
Class R5 Shares
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Highest
Quarter:
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2Q 09,
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18.61%
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Lowest
Quarter:
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4Q 08,
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-22.19%
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After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect
the impact of state and local taxes. Actual after-tax returns depend on an investors tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as
401(k) plans or individual retirement accounts. After-tax returns are shown for Class R5 only. After-tax returns for other classes will vary.
Average Annual Total Returns
(For the periods ended December 31, 2013)
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One
Year
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Five
Years
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Since
Inception
(12/31/04)
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Class R5
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Return Before Taxes
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31.77%
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18.12%
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6.72%
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Return After Taxes on Distributions
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31.50%
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17.92%
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6.03%
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Return After Taxes on Distributions and Sale of Fund Shares
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18.20%
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14.77%
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5.32%
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Class I
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Return Before Taxes
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31.77%
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18.12%
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6.72%
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Service Class
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Return Before Taxes
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31.67%
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18.11%
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6.61%
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Administrative Class
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Return Before Taxes
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31.52%
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17.91%
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6.48%
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Class A
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Return Before Taxes
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23.72%
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16.22%
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5.51%
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Class R4
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Return Before Taxes
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31.32%
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17.71%
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6.29%
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Class R3
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Return Before
Taxes
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30.81%
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17.24%
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5.88%
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S&P 500
Index (reflects no deduction for fees, expenses, or taxes)
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32.39%
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17.94%
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7.01%
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S-3
MANAGEMENT
Investment Adviser:
MML Investment Advisers, LLC
Subadviser:
OFI Global Institutional, Inc.
Portfolio Managers:
Manind Govil
is a portfolio manager with OFI Global. He has managed the Fund since May 2009.
Paul Larson
is a portfolio manager with OFI Global. He has managed the Fund since February 2014.
Benjamin Ram
is a portfolio manager with OFI Global. He has managed the Fund since May 2009.
PURCHASE AND SALE OF FUND SHARES
Shares of the Fund are
generally available to retirement plans, other institutional investors, and individual retirement accounts. Fund shares are redeemable on any business day by written request, telephone or internet (available to certain customers).
TAX INFORMATION
The Fund intends to make distributions that may be taxed as ordinary income or capital gains, unless you are an investor eligible for preferential tax
treatment.
PAYMENTS TO BROKER-DEALERS AND OTHER FINANCIAL INTERMEDIARIES
If you purchase the Fund through a broker-dealer or other financial intermediary, the intermediary may receive a
one-time
or continuing payments from the Fund, MML Advisers or its affiliates, or others for the sale of Fund shares or continuing shareholder services provided by the intermediary. These payments may create a
conflict of interest by influencing the broker-dealer or other intermediary to recommend the Fund over another investment. You should contact your intermediary to obtain more information about the compensation it may receive in connection with your
investment.
S-4
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