Putnam Investments has over seventy years of investment experience and offers investors 79 mutual funds across a range of asset classes and investment styles. With over $130 billion in assets under management, it serves 111 institutional clients including the pension funds of several states and many large corporations. Putnam considers its seasoned portfolio managers to be its biggest assets and relies primarily on original, fundamental research on a global scale.
Below we will share with you 5 top rated Putnam funds. Each has earned a Zacks #1 Rank (Strong Buy) as we expect the fund to outperform its peers in the future.
Putnam Minnesota Tax Exempt Income A (PXMNX) seeks current income exempt which is not subject to federal income tax and Minnesota personal income tax. The fund primarily invests in bonds which are not subject to the taxes mentioned earlier, but are subject to federal alternative minimum tax. The fund has a ten year annualized return of 4.48%.
Thalia M. Meehan is the fund manager and she has managed this Putnam mutual fund since 2006.
Putnam Diversified Income A (PDINX) invests between 15 to 65% of its assets in investment grade and lower rated bonds issued by U.S companies, U.S government securities and bonds issued by foreign governments and corporations. The fund returned 13.51% over the last one year period.
The Putnam mutual fund has a minimum initial investment of $500 and an expense ratio of 1.01% compared to a category average of 1.17%.
Putnam Global Health Care A (PHSTX) seeks long-term capital growth. The fund invests primarily in companies from the health care sector across the globe. It focuses on acquiring common stocks of large and mid-cap companies, but may also invest in smaller firms. The health mutual fund has a three year annualized return of 6.14%.
Kelsey Chen is the fund manager and she has managed this health mutual fund since 2005.
Putnam Global Income A (PGGIX) invests mainly in investment-grade debt, with an emphasis on bonds with a minimum maturity period of three years. Securitized debt instruments and debt securities issued by companies and governments across the globe constitute its major investments. The fund has a five year annualized return of 9.97%.
As of March 2011, this Putnam mutual fund held 557 issues, with 10.02% of its total assets invested in Germany (Federal Republic Of) 3%.
Putnam Income A (PINCX) seeks high current income at reasonable levels of risk. The majority of the fund’s assets are invested in securitized debt instruments and dollar denominated obligations issued by governments and companies worldwide. It invests in securities rated investment grade as well as junk bonds with maturity periods of three years or longer. The fund returned 7.14% in the last one year period.
The Putnam mutual fund has a minimum initial investment of $500 and an expense ratio of 0.88% compared to a category average of 0.94%.
To view the Zacks Rank and past performance of all Putnam mutual funds, then click here.