Putnam mutual fund expense calculator

All mutual fund investors pay expenses, such as management fees, distribution fees (12b-1 fees), and other expenses. These ongoing expenses cover the costs of research and investment management, as well as distribution and certain administrative expenses. Mutual fund investors may also pay one-time transaction expenses, including sales charges (loads) and redemption fees. Sales charges primarily compensate financial advisors for the services they provide.

For more information about any Putnam fund's expenses, you should talk to your financial advisor and consult the fund's prospectus. The prospectus section entitled "Fees and Expenses" indicates the fees and expenses paid by the fund for its most recent fiscal year (unless otherwise indicated), organized by share class.

This calculator can help you estimate the expenses you would pay as an investor in a Putnam fund, based on information you provide as well as the fees and expenses of the selected Putnam fund and share class.

This calculator is not meant to be used by retirement plan participants or other investors eligible to purchase class A shares at net asset value.