Investment Options

A full range of mutual funds and other investment products for Defined Contribution platforms.

Putnam Absolute Return Funds

Pursue targeted returns of 1%, 3%, 5%, or 7% above inflation over a rolling 3-year period

Objective:
The Absolute Return 100 fund seeks a positive return that exceeds the rate of inflation, as reflected by Treasury bills, by 1% over a reasonable period of time, regardless of market conditions.

The Absolute Return 300 fund seeks a positive return that exceeds the rate of inflation, as reflected by Treasury bills, by 3% over a reasonable period of time, regardless of market conditions.

The Absolute Return 500 fund seeks a positive return that exceeds the rate of inflation, as reflected by Treasury bills, by 5% over a reasonable period of time, regardless of market conditions.

The Absolute Return 700 fund seeks a positive return that exceeds the rate of inflation, as reflected by Treasury bills, by 7% over a reasonable period of time, regardless of market conditions.

Ultimate flexibility: The funds go beyond the constraints of a traditional benchmark, investing dynamically worldwide to pursue positive results over three years or more.

Progressive risk management: Pursue absolute return using modern investment tools to help mitigate risk and potentially outperform general markets during flat or negative periods.

Experience: Fund managers experienced with absolute return strategies over multiple market cycles.

Fund profile: Absolute Return (PDF)


Putnam Capital Spectrum Fund

Investing in the total return opportunities of leveraged companies

Objective: The fund seeks total return.

Companies using debt strategically: The fund targets the investment potential of companies that use a significant amount of debt in their capital structure to achieve their business goals.

Opportunities across the spectrum: The fund manager has flexibility to select the most attractive securities in a company's capital structure, including common stocks, bonds, bank loans, and convertibles.

An experienced manager: Portfolio Manager David Glancy has specialized in leveraged companies since 1987, building a successful record over two decades.

Fund profile: Capital Spectrum (PDF)


Putnam Equity Spectrum Fund

Pursuing aggressive growth opportunities in leveraged companies

Objective: The fund seeks capital appreciation.

Companies using debt strategically: The fund targets the investment potential of companies that use a significant amount of debt in their capital structure to achieve their business goals.

Opportunities in under-researched stocks: Attracting little research coverage, stocks of leveraged companies can be significantly mispriced, offering the potential to outperform broad market averages.

An experienced manager: Portfolio manager David Glancy has specialized in leveraged companies since 1987.

Fund profile: Equity Spectrum (PDF)


Consider these risks before investing: Our allocation of assets among permitted asset categories may hurt performance. The prices of stocks and bonds in the fund's portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including both general financial market conditions and factors related to a specific issuer or industry. Our active trading strategy may lose money or not earn a return sufficient to cover associated trading and other costs. Our use of leverage obtained through derivatives increases these risks by increasing investment exposure. Bond investments are subject to interest-rate risk, which means the prices of the fund's bond investments are likely to fall if interest rates rise. Bond investments also are subject to credit risk, which is the risk that the issuer of the bond may default on payment of interest or principal. Interest-rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds, which may be considered speculative. Unlike bonds, funds that invest in bonds have ongoing fees and expenses. Lower-rated bonds may offer higher yields in return for more risk. Funds that invest in government securities are not guaranteed. Mortgage-backed securities are subject to prepayment risk. International investing involves certain risks, such as currency fluctuations, economic instability, and political developments. Additional risks may be associated with emerging-market securities, including illiquidity and volatility. The use of derivatives involves additional risks, such as the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations. The fund may not achieve its goal, and it is not intended to be a complete investment program. The fund's effort to produce lower volatility returns may not be successful and may make it more difficult at times for the fund to achieve its targeted return. In addition, under certain market conditions, the fund may accept greater volatility than would typically be the case, in order to seek its targeted return. For the 500 Fund and 700 Fund these risks also apply: REITs involve the risks of real estate investing, including declining property values. Commodities involve the risks of changes in market, political, regulatory, and natural conditions. Investments in small and/or midsize companies increase the risk of greater price fluctuations. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. Additional risks are listed in the funds' prospectus.

You can lose money by investing in a fund. Any given fund may not achieve its goal, and is not intended as a complete investment program. All funds have risk. The value and/or returns of a portfolio will fluctuate with market conditions. You may have more or less than the original amount invested when you redeem your shares.