Quarterly fund commentaries
Security selection drives relative outperformance
Municipals rally as U.S. inflation slows
Fund outperforms on credit selection
Ultra Short Duration Income Fund
Easing inflation sparks bond rally
Cooling inflation boosts performance across financial markets
Small-cap growth stocks recover in fourth quarter
In a challenging year, the fund delivers solid relative performance
Durable growth remains a focus after difficult year for equities
Learn about our active strategies

Tax-Free Income Strategies
- How we invest
- The muni bond advantage — across 50 states
- Putnam tax-free income funds