Money Market Fund (PDDXX)

Pursuing income while preserving capital with short-term investments since 1976

  • Highlights
  • Performance
  • Holdings
  • Expenses

Fund price

Yesterday's close 52-week high 52-week low
Net asset value $1.00
0.00% ( $0.00 )

Management team

Joanne M. Driscoll, CFAJonathan M. Topper

(pictured left to right)
Joanne M. Driscoll, CFA (industry since 1992)
Jonathan M. Topper (industry since 1990)

Strategy and process

  • Capital preservation: The fund invests in highly rated money market instruments to maintain a stable net asset value and protect investors' wealth.
  • Attractive income: The portfolio managers use credit research to select a diverse portfolio of securities that offer above-average yields.
  • Leading research: The managers, supported by Putnam's fixed-income research division, manage risk by analyzing individual securities and overall market conditions.

Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. To obtain the most recent month-end performance, visit

Performance assumes reinvestment of distributions and does not account for taxes. Class A, M, R, and T shares have no initial sales charge. Class B shares reflect the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declines to 1% in the sixth year, and is eliminated thereafter. Class C shares reflect a 1% CDSC for the first year that is eliminated thereafter. Performance for B, C, M, R, and T shares before their inception is derived from the historical performance of class A shares, adjusted for the applicable sales charge (or CDSC) and higher operating expenses for such shares. Class A, M, R, and T shares generally have no CDSC. Please see the fund's prospectus for more details. Yield more closely reflects current performance than total return. 

Yield more closely reflects current performance than total return.

The Lipper Money Market Funds Average is an arithmetic average of the total return of all Lipper Money Market Funds.

Consider these risks before investing: Money market funds are not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other governmental agency. Although the fund seeks to preserve a $1.00 per share value, issuer credit quality and interest-rate risks exist, and it is possible to lose money by investing in this fund. Inflation's effects may erode your investment's value over time. Money market values typically rise and fall in response to changes in interest rates. Although the fund only buys high-quality investments, investments backed by a letter of credit carry the risk of the provider failing to fulfill its obligations to the issuer.

Credit qualities are shown as a percentage of net assets as of the date indicated above. A bond rated Baa or higher (Prime-3 or higher, for short-term debt) is considered investment grade. The chart reflects Moody's ratings; percentages may include bonds or derivatives not rated by Moody's but rated by Standard & Poor's or, if unrated by S&P, by Fitch, and then included in the closest equivalent Moody's rating. Ratings will vary over time. Credit quality includes bonds and represents only the fixed-income portion of the portfolio. Derivative instruments, including currency forwards, are only included to the extent of any unrealized gain or loss on such instruments and are shown in the not-rated category. The fund itself has not been rated by an independent rating agency

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.