Paul M. Drury, CFA

Portfolio Manager

Mr. Drury is a Portfolio Manager in the Tax Exempt Fixed Income group. He manages Putnam’s open-and closed-end municipal bond funds. His responsibilities include security selection and sector rotation, ratings allocation, and duration/term structure management. In addition, Mr. Drury manages Putnam’s Municipal Portfolio team, credit research analysts, and traders. Previously at Putnam, Mr. Drury spent a decade as Head of Trading, Municipal Bonds, where he worked closely with Putnam's portfolio managers to execute trades in various sectors of the municipal market. Mr. Drury has been in the investment industry since he joined Putnam in 1989.

Mutual Funds

Fact sheet Annual Semi annual Compare
California Tax Exempt Income Fund
Overall Morningstar RatingTM among 103 funds in the Muni California Long category.
10-year Morningstar RatingTM among 73 funds in the Muni California Long category.
5-year Morningstar RatingTM among 96 funds in the Muni California Long category.
3-year Morningstar RatingTM among 103 funds in the Muni California Long category.
Intermediate-Term Municipal Income Fund
3-year Morningstar RatingTM among 283 funds in the Muni National Interm category.
Massachusetts Tax Exempt Income Fund
Overall Morningstar RatingTM among 42 funds in the Muni Massachusetts category.
10-year Morningstar RatingTM among 31 funds in the Muni Massachusetts category.
5-year Morningstar RatingTM among 40 funds in the Muni Massachusetts category.
3-year Morningstar RatingTM among 42 funds in the Muni Massachusetts category.
Minnesota Tax Exempt Income Fund
Overall Morningstar RatingTM among 43 funds in the Muni Minnesota category.
10-year Morningstar RatingTM among 30 funds in the Muni Minnesota category.
5-year Morningstar RatingTM among 41 funds in the Muni Minnesota category.
3-year Morningstar RatingTM among 43 funds in the Muni Minnesota category.
New Jersey Tax Exempt Income Fund
Overall Morningstar RatingTM among 49 funds in the Muni New Jersey category.
10-year Morningstar RatingTM among 38 funds in the Muni New Jersey category.
5-year Morningstar RatingTM among 46 funds in the Muni New Jersey category.
3-year Morningstar RatingTM among 49 funds in the Muni New Jersey category.
New York Tax Exempt Income Fund
Overall Morningstar RatingTM among 72 funds in the Muni New York Long category.
10-year Morningstar RatingTM among 56 funds in the Muni New York Long category.
3-year Morningstar RatingTM among 72 funds in the Muni New York Long category.
Ohio Tax Exempt Income Fund
Overall Morningstar RatingTM among 23 funds in the Muni Ohio category.
5-year Morningstar RatingTM among 21 funds in the Muni Ohio category.
3-year Morningstar RatingTM among 23 funds in the Muni Ohio category.
Pennsylvania Tax Exempt Income Fund
Overall Morningstar RatingTM among 49 funds in the Muni Pennsylvania category.
5-year Morningstar RatingTM among 46 funds in the Muni Pennsylvania category.
3-year Morningstar RatingTM among 49 funds in the Muni Pennsylvania category.
Short-Term Municipal Income Fund
Overall Morningstar RatingTM among 205 funds in the Muni National Short category.
5-year Morningstar RatingTM among 184 funds in the Muni National Short category.
3-year Morningstar RatingTM among 205 funds in the Muni National Short category.
Strategic Intermediate Municipal Fund
Overall Morningstar RatingTM among 283 funds in the Muni National Interm category.
10-year Morningstar RatingTM among 183 funds in the Muni National Interm category.
5-year Morningstar RatingTM among 246 funds in the Muni National Interm category.
3-year Morningstar RatingTM among 283 funds in the Muni National Interm category.
Tax Exempt Income Fund
Overall Morningstar RatingTM among 155 funds in the Muni National Long category.
10-year Morningstar RatingTM among 100 funds in the Muni National Long category.
Tax-Free High Yield Fund
Overall Morningstar RatingTM among 187 funds in the High Yield Muni category.
10-year Morningstar RatingTM among 108 funds in the High Yield Muni category.
5-year Morningstar RatingTM among 167 funds in the High Yield Muni category.
3-year Morningstar RatingTM among 187 funds in the High Yield Muni category.

Closed End Funds

Managed Municipal Income Trust
Municipal Opportunities Trust

More from the Fixed Income team

Sector views

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