After the launch of its first fund in 1937, Putnam Investments has come a long way. It is now one of the most renowned financial investment companies in the world. Putnam had assets of $177 billion under its management as of August 2018, of which mutual fund assets comprised $83 billion. The fund family allocated its assets in more than 100 mutual funds, including both equity and fixed income funds.
The company has over 180 investment professionals and provides a wide range of financial services, including 60 institutional strategies. It now has presence in North America, Europe and Asia with offices in London, Boston, Tokyo, Frankfurt, Singapore and Sydney.
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 peers in the future. Investors can click here to see the complete list of Putnam Investment funds.
Putnam Absolute Return 100 Y (PARYX - Free Report) seeks growth of returns by maintaining a well-diversified portfolio. This portfolio reflects several uncorrelated fixed-income strategies designed to utilize market inefficiencies across multiple fixed-income sectors and global markets. Putnam Absolute Return 100 Y has three-year annualized returns of 2.4%.
PARYX has an expense ratio of 0.40% compared with the category average of 1.16%.
Putnam Diversified Income Y (PDVYX - Free Report) seeks high income consistent with capital preservation. PDVYX invests primarily in securitized debt instruments and other obligations that are investment-grade or below-investment-grade in quality and issued by companies and governments based globally. Putnam Diversified Income Y has three-year annualized returns of 4.1%.
As of June 2018, PDVYX held 1,969 issues, with 6.80% of its assets invested in Federal National Mortgage Association 3.5%.
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, the 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 three-year annualized returns of 4.4%.
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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