Putnam Investments managed assets worth more than $172 billion as of April 2018, of which $78 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 4% in the past year.
As of June 2018, PYTRX held 1,201 issues, with 3.95% of its assets invested in Federal National Mortgage Association 3.5%.
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 4%.
PTFYX has an expense ratio of 0.60% compared with the category average of 0.94%.
Putnam Diversified Income Trust A (PDINX – Free Report) seeks maximization of income by investing primarily in bonds that are rated investment-grade or lower. PDINX maintains a diversified portfolio and invests in securitized debt securities including mortgage-backed instruments and obligations issued by companies and governments of different countries. Putnam Diversified Income Trust A has returned 5.2% in a year.
D. William Kohli is one of the fund managers of PDINX since 1994.
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.
Want key mutual fund info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing mutual funds, each week. Get it free >>