Putnam Investments managed assets worth more than $169 billion as of October 2018, of which $79 billion is allocated to more than 100 mutual funds, including equity and fixed income funds. The company operates in North America, Europe and Asia through offices in Boston, London, Sydney, Frankfurt, Singapore and Tokyo.
After the introduction of its fund in 1937, Putnam Investments gradually evolved as one of the most-renowned global financial investment companies. It provides a wide range of financial services, including 60 institutional strategies. At present, the Boston-based company has more than 180 investment professionals.
Below we share with you three top-ranked Putnam mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of Putnam Investment funds.
Putnam Fixed Income Absolute Return Y (PYTRX – Free Report) seeks a high level of returns. The fund invests a large chunk of its assets in fixed-income securities, including different types of debt instruments and derivatives. Putnam Fixed Income Absolute Return Y has returned 2.9% in the past year.
As of October 2018, PYTRX held 1,031 issues, with 0.90% of its assets invested in HARRIS CNTY TEX INDL DEV CORP 5%.
Putnam Tax-Free High Yield Y (PTFYX – Free Report) invests primarily in bonds that offer interest income free from federal income tax. PTFYX seeks growth of income by investing debt securities that are rated investment-grade or lower. These debt securities have maturities of three years and higher. Putnam Tax-Free High Yield Y has one-year annualized returns of 1.1%.
PTFYX has an expense ratio of 0.59% compared with the category average of 0.94%.
Putnam Tax-Free High Yield A (PTHAX – Free Report) seeks high current income free from federal income tax. The majority of the fund’s assets are invested in bonds, interest from which is exempt from federal income tax. It purchases securities rated investment grade as well as those of lower quality. Putnam Tax-Free High Yield A has one-year annualized returns of 0.9%.
Paul M. Drury is one of the fund managers of PTHAX since 2002.
To view the Zacks Rank and past performance of all Putnam Investment mutual funds, investors can click here to see the complete list of Putnam Investment funds.
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