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.
Closed End Funds
Managed Municipal Income Trust | ||||
Municipal Opportunities Trust |
Blog posts
Record-setting muni issuance pauses post-election
12/2/2020
Muni issuance pauses post-election, but reinvestment demand typically increases near year-end.
Munis outpace Treasuries, taxable bonds
11/5/2020
The recovery in the municipal bond market continued in the third quarter as munis outpaced U.S. Treasuries and the broader taxable bond market.
Investors returning to municipal bond funds
9/18/2020
Municipal bond funds rebounded in the second quarter as investors returned to asset classes they abandoned early in the pandemic.