Since 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 worth $192 billion under its management as of Dec 31, 2020, of which mutual fund assets comprised $93 billion. The fund family allocated its assets to more than 100 mutual funds, including equity and fixed income funds.
The company has more than 170 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 its peers in the future. Investors can click here to see the complete list of funds.
Putnam Short Duration Bond Fund Class Y PARYX seeks as high a rate of current income as the fund’s management believes would be consistent with preservation of capital. The fund invests in a diversified portfolio of fixed income securities. PARYX has three-year annualized returns of 3.4%.
As of the end of December 2020, PARYX held 601 issues with 1.12% of its assets invested in AT&T Inc 4.12%.
Putnam Income Fund Class A PINCX seeks high current income consistent with prudent risk. The fund invests the majority of assets in bonds and other obligations of companies and governments globally, denominated in U.S. dollars, that are either investment-grade or below investment-grade and have intermediate- to long-term maturities. PINCX has three-year annualized returns of 6.2%.
PINCX has an expense ratio of 0.74% compared with the category average of 0.78%.
Putnam Emerging Markets Equity Fund Class Y PEMYX aims for long-term capital appreciation. The fund invests the majority of assets in common stocks of emerging market companies that the fund manager believes have favorable investment potential. PEMYX has three-year annualized returns of 11.6%.
Brian S. Freiwald is one of the fund managers of PEMYX since 2019.
To view the Zacks Rank and past performance of all Putnam Investment mutual funds, investors can click here to see the complete list of 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 >>