Since its first fund in 1937, Putnam Investments has gradually evolved as one of the most renowned financial investment companies in the world. Putnam currently has assets of $152 billion under its management (as of December 2016), out of which $72 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 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. Investors can click here to see the complete list of Putnam Investment funds.
Putnam Diversified Income Trust A (MUTF:PDINX) seeks high income growth, which management expects to be consistent with capital preservation. The fund generally invests in securitized debt securities like mortgage-backed bonds and corporate and government bonds. These bonds are rated investment grade or lower and have maturities of three years and higher. It has a one-year annualized return of 12.2%.
As of September 2016, PDINX held 1035 issues, with 27.51% of its assets invested in Fed Natl Mort Assc 3.5%.
George Putnam Balanced Fund Inst (MUTF:PGEYX) primarily invests in a combination of common stocks and bonds of major domestic companies. It seeks to maintain a balanced investment by offering growth of income and capital. The fund has a one-year annualized return of 17.5%.
PGEYX has an expense ratio of 0.75% as compared with the category average of 0.91%.
Putnam Absolute Return 300 Fund A (MUTF:PTRNX) seeks a high level of returns likely to beat the returns on U.S. Treasury bills by 3%, or 300 points, for a period of at least three years. It seeks consistent returns by maintaining a diversified portfolio, which reflects uncorrelated fixed-income strategies. The fund has a one-year annualized return of 6%.
D. Kohli is one of the fund managers of PTRNX since 2008.