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Absolute return funds pursue
a low-risk profile

Stock market risk has tested the patience of investors in recent
years, as shown by the high 3-year standard deviations of
the equity indexes filling this chart.

Putnam Absolute Return Funds hit the center of this standard
deviation chart because of their historic low-risk profiles.
The funds target positive returns above inflation, as measured
by T-bills, with lower volatility over a market cycle.

The risk of market ups and downs
Standard deviation (SD) measures historical risk
by indicating how far monthly returns have varied
from a long-term average over a three-year period.

High SD — many or larger performance swings
Low SD — fewer or smaller performance swings

As of March 31, 2013


At the center of any portfolio

Putnam Absolute Return Funds can be paired with traditional, relative return funds to seek reduced portfolio volatility.
Fund Standard deviation
Absolute Return 100® 1.29
Absolute Return 300® 2.95
Absolute Return 500® 4.01
Absolute Return 700® 4.87

As of March 31, 2013