Municipal Bond Funds

Pursue income exempt from state and federal income taxes with a diversified portfolio of municipal securities.

Municipal bond funds are a type of mutual fund that invests in debt securities issued by states, cities, municipalities, and other government organizations to fund infrastructure construction, improvements, and repairs. Municipal bond funds are attractive because they pay a stream of income free from federal tax and, in most cases, state taxes for residents of the issuing state. As with all mutual funds, municipal bond funds carry a degree of risk.

Putnam's approach

  • We take a comprehensive view of risk to build bond funds with a broader range of investment potential.
  • We actively work to determine which risks are worth taking and when.
  • We have fundamental insights into a wide range of sectors.

Browse Putnam's Municipal Bond Funds

For more information on these funds and the potential risks of investing, please click on the fund names. You can lose money investing in a mutual fund.