Putnam Investments

Active management, fundamental research, and a focus on long-term performance

Putnam Investments pursues active money management to meet investor needs and challenges, with a focus on long-term performance. We offer products that seek value beyond mainstream benchmarks, diversify sources of risk to offset volatility, use approaches independent of market direction, and pursue opportunities in untapped markets.

Rigorous research and out-of-the-box thinking

Fundamental research is the cornerstone of our investment approach, backed by a globally integrated team of analysts who are empowered to develop differentiated insights. Our research process is a collaborative effort across the firm that emphasizes out-of-the-box critical thinking, and our risk management is stringent and independent.

Keys to successful investing

We believe investment success results from portfolio managers who are accountable and a compensation structure that is aligned with performance goals over a multi-year horizon.

A top-10 ranking by Barron's for five-year performance

Putnam ranked 6th out of 56 fund families for the five-year period ended December 31, 2014, in the Barron's/Lipper Fund Family Ranking.

How Barron's ranked the fund families:
The Barron's/Lipper Fund Family Ranking published February 7, 2015, ranked Putnam 14 out of 57 for 2010, 57 out of 58 for 2011, 1 out of 62 for 2012, 2 out of 64 for 2013, and 33 out of 65 for 2014 for the 1-year period with funds in five categories: U.S. equity, world equity, mixed asset, taxable bond, and tax-exempt bond. Putnam ranked 41 out of 53 and 38 out of 46 for the 5- and 10-year periods ending 2010, 49 out of 53 and 41 out of 45 for the 5- and 10-year periods ending 2011, 27 out of 53 and 36 out of 46 for the 5- and 10-year periods ending 2012, 2 out of 55 and 32 out of 48 for the 5- and 10-year periods ending 2013, and 6 out of 56 and 30 out of 48 for the 5- and 10-year periods ending 2014, respectively. Only funds with at least one year of performance were included. Returns were calculated minus the effects of sales charges and the 12b-1 fees. Rankings were asset weighted, so larger funds had a greater impact on a fund family's overall ranking, and then weighted by category, with each category assigned a percentage. Past performance is not indicative of future results. Barron's is a registered trademark of Dow Jones & Company.

For complete performance for Putnam funds, visit putnam.com

All funds involve risk, including the loss of capital.