Paul M. Drury, CFA

Portfolio Manager

Mr. Drury is a Portfolio Manager in the Tax Exempt Fixed Income group. He manages Putnam’s open-and closed-end municipal bond funds. His responsibilities include security selection and sector rotation, ratings allocation, and duration/term structure management. In addition, Mr. Drury manages Putnam’s Municipal Portfolio team, credit research analysts, and traders. Previously at Putnam, Mr. Drury spent a decade as Head of Trading, Municipal Bonds, where he worked closely with Putnam's portfolio managers to execute trades in various sectors of the municipal market. Mr. Drury has been in the investment industry since he joined Putnam in 1989.

Mutual Funds

Fact sheet Annual Semi annual
California Tax Exempt Income Fund
Overall Morningstar RatingTM among 95 funds in the Muni California Long category.
10-year Morningstar RatingTM among 61 funds in the Muni California Long category.
5-year Morningstar RatingTM among 80 funds in the Muni California Long category.
3-year Morningstar RatingTM among 95 funds in the Muni California Long category.
Intermediate-Term Municipal Income Fund
Massachusetts Tax Exempt Income Fund
Overall Morningstar RatingTM among 45 funds in the Muni Massachusetts category.
10-year Morningstar RatingTM among 34 funds in the Muni Massachusetts category.
5-year Morningstar RatingTM among 40 funds in the Muni Massachusetts category.
3-year Morningstar RatingTM among 45 funds in the Muni Massachusetts category.
Minnesota Tax Exempt Income Fund
Overall Morningstar RatingTM among 43 funds in the Muni Minnesota category.
10-year Morningstar RatingTM among 30 funds in the Muni Minnesota category.
5-year Morningstar RatingTM among 38 funds in the Muni Minnesota category.
New Jersey Tax Exempt Income Fund
5-year Morningstar RatingTM among 42 funds in the Muni New Jersey category.
New York Tax Exempt Income Fund
Ohio Tax Exempt Income Fund
5-year Morningstar RatingTM among 20 funds in the Muni Ohio category.
Pennsylvania Tax Exempt Income Fund
Overall Morningstar RatingTM among 51 funds in the Muni Pennsylvania category.
5-year Morningstar RatingTM among 46 funds in the Muni Pennsylvania category.
3-year Morningstar RatingTM among 51 funds in the Muni Pennsylvania category.
Short-Term Municipal Income Fund
Overall Morningstar RatingTM among 210 funds in the Muni National Short category.
5-year Morningstar RatingTM among 176 funds in the Muni National Short category.
Strategic Intermediate Municipal Fund
Overall Morningstar RatingTM among 270 funds in the Muni National Interm category.
10-year Morningstar RatingTM among 168 funds in the Muni National Interm category.
5-year Morningstar RatingTM among 231 funds in the Muni National Interm category.
3-year Morningstar RatingTM among 270 funds in the Muni National Interm category.
Tax Exempt Income Fund
Tax-Free High Yield Fund

Closed End Funds

Managed Municipal Income Trust
Municipal Opportunities Trust

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