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 102 funds in the Muni California Long category.
10-year Morningstar RatingTM among 78 funds in the Muni California Long category.
5-year Morningstar RatingTM among 97 funds in the Muni California Long category.
3-year Morningstar RatingTM among 102 funds in the Muni California Long category.
Intermediate-Term Municipal Income Fund
Overall Morningstar RatingTM among 265 funds in the Muni National Interm category.
5-year Morningstar RatingTM among 238 funds in the Muni National Interm category.
3-year Morningstar RatingTM among 265 funds in the Muni National Interm category.
Massachusetts Tax Exempt Income Fund
Overall Morningstar RatingTM among 40 funds in the Muni Massachusetts category.
10-year Morningstar RatingTM among 31 funds in the Muni Massachusetts category.
5-year Morningstar RatingTM among 39 funds in the Muni Massachusetts category.
3-year Morningstar RatingTM among 40 funds in the Muni Massachusetts category.
Minnesota Tax Exempt Income Fund
Overall Morningstar RatingTM among 44 funds in the Muni Minnesota category.
5-year Morningstar RatingTM among 43 funds in the Muni Minnesota category.
3-year Morningstar RatingTM among 44 funds in the Muni Minnesota category.
New Jersey Tax Exempt Income Fund
Overall Morningstar RatingTM among 47 funds in the Muni New Jersey category.
10-year Morningstar RatingTM among 39 funds in the Muni New Jersey category.
5-year Morningstar RatingTM among 47 funds in the Muni New Jersey category.
3-year Morningstar RatingTM among 47 funds in the Muni New Jersey category.
New York Tax Exempt Income Fund
Overall Morningstar RatingTM among 82 funds in the Muni New York Long category.
10-year Morningstar RatingTM among 64 funds in the Muni New York Long category.
5-year Morningstar RatingTM among 77 funds in the Muni New York Long category.
3-year Morningstar RatingTM among 82 funds in the Muni New York Long category.
Ohio Tax Exempt Income Fund
3-year Morningstar RatingTM among 24 funds in the Muni Ohio category.
Pennsylvania Tax Exempt Income Fund
Overall Morningstar RatingTM among 50 funds in the Muni Pennsylvania category.
10-year Morningstar RatingTM among 41 funds in the Muni Pennsylvania category.
5-year Morningstar RatingTM among 49 funds in the Muni Pennsylvania category.
Short-Term Municipal Income Fund
Overall Morningstar RatingTM among 208 funds in the Muni National Short category.
10-year Morningstar RatingTM among 146 funds in the Muni National Short category.
5-year Morningstar RatingTM among 199 funds in the Muni National Short category.
3-year Morningstar RatingTM among 208 funds in the Muni National Short category.
Strategic Intermediate Municipal Fund
Overall Morningstar RatingTM among 265 funds in the Muni National Interm category.
10-year Morningstar RatingTM among 180 funds in the Muni National Interm category.
5-year Morningstar RatingTM among 238 funds in the Muni National Interm category.
3-year Morningstar RatingTM among 265 funds in the Muni National Interm category.
Tax Exempt Income Fund
Overall Morningstar RatingTM among 162 funds in the Muni National Long category.
10-year Morningstar RatingTM among 114 funds in the Muni National Long category.
5-year Morningstar RatingTM among 155 funds in the Muni National Long category.
3-year Morningstar RatingTM among 162 funds in the Muni National Long category.
Tax-Free High Yield Fund
Overall Morningstar RatingTM among 185 funds in the High Yield Muni category.
10-year Morningstar RatingTM among 118 funds in the High Yield Muni category.
5-year Morningstar RatingTM among 178 funds in the High Yield Muni category.
3-year Morningstar RatingTM among 185 funds in the High Yield Muni category.

Closed End Funds

Managed Municipal Income Trust
Municipal Opportunities Trust

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