« Back | Press release: January 16, 2014

Putnam Investments receives third consecutive total client experience award from DALBAR

Firm Receives Special Recognition Related to Client Security, Processing and Information Accuracy

BOSTON, January 16, 2014 — For the third consecutive year Putnam Investments has been named the sole recipient of the "Total Client Experience" award from DALBAR Inc., the industry-leading financial services market research and consulting firm. The Total Client Experience award reflects multi-dimensional analysis by DALBAR of customer service that is based on rigorous, systematic and yearlong testing of customer service.

Separately, in December, Putnam was honored by DALBAR for the 24th consecutive year for mutual fund service quality.

The Total Client Experience award goes beyond assessing professionalism to also evaluate three key deliverables:

  • Security — Measuring strict but client-friendly processes for verifying clients' identity beforedisclosing any confidential information
  • Processing Accuracy — Measuring the efficient completion of processes needed to meet clients' requests correctly
  • Information Accuracy — Measuring the correctness and completeness of all informationprovided to clients

"Providing clients with top-flight service remains a critical ongoing priority for our business – and has been an unyielding focus at Putnam for decades," said Robert L. Reynolds, President and Chief Executive Officer, Putnam Investments. "Our firm is deeply honored to receive this recognition from DALBAR, which serves as tangible validation of the tireless and high quality customer service being delivered by professionals across the Putnam organization."

About DALBAR
DALBAR, Inc., the nation's leading financial services market research and consulting firm, is committed to raising the standards of excellence in the financial services industry. With offices in both the US and Canada, DALBAR develops standards for, and provides research, ratings, and rankings of intangible factors to the mutual fund, broker/dealer, life insurance, property and casualty, and managed account industries. Measurements include investor behavior, customer satisfaction, service quality, communications, Internet services, and financial professional ratings.

About Putnam Investments
Founded in 1937, Putnam Investments is a leading global money management firm. At the end of December 2013, Putnam had nearly $150 billion in assets under management. Putnam has offices in Boston, London, Frankfurt, Amsterdam, Tokyo, Beijing, Singapore and Sydney. For more information, visit http://www.putnam.com.

Putnam Investments Media Contacts:
Jon Goldstein — 617-760-1127 (office), 516-946-5598 (cell), jon_goldstein@putnam.com
Laura McNamara — 617-760-1108 (office), 617-850-2727 (cell), laura_mcnamara@putnam.com

IMPORTANT: The projections, or other information generated by the Lifetime Income Analysis Tool regarding the likelihood of various investment outcomes, are hypothetical in nature. They do not reflect actual investment results and are not guarantees of future results. The results may vary with each use and over time. The analyses present the likelihood of various investment outcomes if certain investment strategies or styles are undertaken, thereby serving as an additional resource to investors in the evaluation of the potential risks and returns of investment choices.

Each simulation takes into account the participant's current plan balance and investment mix, as well as his or her age, income, retirement date, contribution rate, likely future savings, and estimated Social Security benefit. The tool runs over 50 billion market simulations to provide an estimate of a monthly income likely to be generated at retirement. The Lifetime Income Analysis Tool is an interactive investment tool designed for Putnam 401(k) participants to illustrate the estimated impact of a participant's plan balances and projected savings on income in retirement. The tool takes into account both before-tax and after-tax accumulated balances and future regularly scheduled contributions for estimated projections. It cannot account for dramatic changes in a participant's personal situation, including unexpected expenses and other financial situations that may negatively affect one's estimated monthly income in retirement. You are advised to consider your other assets, income, investment options, investment time horizon, income tax bracket, and risk tolerance when planning for specific investment goals. It is recommended that you consult a financial advisor for more information. It is important to note that the results from this tool are estimates based on what you input today. The results are not a guarantee of actual outcomes and will change as your inputs change.

Health-care costs and projections are provided by HealthView Services, Inc., a third-party vendor. They provide broad, general estimates and information that may help you consider your retirement income needs by better understanding potential health-care costs. This estimate is provided for educational purposes only, and you should not rely on it as the primary basis for your medical, insurance, investment, financial, retirement, or tax planning decisions. Costs are estimated, hypothetical in nature, and not guaranteed. Your actual medical costs will likely vary (sometimes significantly) from the estimates. Putnam does not believe that HIPAA applies to the data obtained from plan participants using this new tool.

Putnam has partnered with LearnVest to provide access to a full range of budgeting and planning tools — including access to a LearnVest financial wellness expert. Fees may apply to certain LearnVest services. Use LearnVest to get a better handle on your day-to-day finances, and to get the help you need to make progress toward all your financial goals.

Investors should carefully consider the investment objectives, risks, charges, and expenses of a fund before investing. For a prospectus, or a summary prospectus if available, containing this and other information for any Putnam fund or product, call your financial representative or call Putnam at 1-800-225-1581. Please read the prospectus carefully before investing.

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