Since the introduction of its first fund in 1937, Putnam Investments gradually evolved into one of the most renowned financial investment companies in the world. Putnam currently has assets of $147 billion under its management (as of May 2016), out of which $73 billion are allocated to more than 80 mutual funds including both equity and fixed income funds. The company has over 200 investment professionals and provides a wide range of financial services including 50 institutional strategies. It now has its presence in North America, Europe and Asia with offices in Boston, London, Frankfurt, Tokyo, Sydney and Singapore.
Below we share with you three top-rated Putnam mutual funds. Each has earned a Zacks Mutual Fund Rank #1(Strong Buy) and is expected to outperform its peers in the future.
Putnam Global Technology Fund (MUTF:PGTYX) seeks growth of capital over the long run. PGTYX invests a major portion of its assets in securities of companies involved in operations related to the technology domain. PGTYX uses a blend strategy to invest in common stocks of companies. It primarily invests in securities of large- and mid-cap companies. Putnam Global Technology Fund has a five-year annualized return of 11.7%.
PGTYX has an expense ratio of 1.01% as compared to the category average of 1.42%.
Putnam Multi-Cap Growth Fund A (MUTF:PNOPX) primarily focuses on acquiring common stocks of companies that are expected to have earnings and business growth prospects higher than their respective peers. PNOPX considers factors like financial strength and growth potential in order to invest in securities of domestic companies. Putnam Multi-Cap Growth Fund A has a five-year annualized return of 11%.
Robert Brookby is the fund manager of PNOPX since 2010.
Putnam Absolute Return 500 Fund A (MUTF:PJMDX) seeks to provide total return that exceeds the return of the U.S. Treasury bills by at least 5% over a significant time period. PJMDX follows two investment strategies - beta and alpha strategies - in order to attain its objective. Putnam Absolute Return 500 Fund A has a five-year annualized return of 2.4%.
As of March 2016, PJMDX held 1,047 issues, with 6.29% of its assets invested in Ndueegf P Usl1m R 08/19/16 Ub.