Steven A. Horner, CFA

Portfolio Manager

Mr. Horner is a Portfolio Manager in the Corporate and Tax-Exempt Credit group within Fixed Income, focusing on Putnam's Stable Value portfolios. He manages stable value, general account insurance, structured investment-grade, absolute return, and multi-sector fixed-income portfolios. Mr. Horner is responsible for portfolio construction, fiduciary oversight, and the communication of investment team decisions on policy, strategy, and tactics to Putnam's fixed income clients. He joined Putnam in 1997 and has been in the investment industry since 1991.

Mutual Funds

Fact sheet Annual Semi annual
Stable Value Fund

More from the Fixed Income team

Sector views

Fixed income markets experienced widespread declines in the U.S. and globally in the third quarter of 2022, as inflation remained high and became more broad-based.

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Where to watch for job losses, by sector

Young businesses are a major source of employment, a key variable determining the economic cycle.

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Expect a pause, not a pivot, as savings fuel spending

In the coming months, the Fed will not likely pivot, but pause and wait with a high level of rates for convincing signs of disinflation.

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High job openings signal wage-price spiral

Limited labor supply, higher wages, and a high staff turnover seems to have initiated a wage-price spiral.

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