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The views and information contained within this Web site are provided for informational purposes only, are not meant as investment advice, and represent the current good-faith views of the authors at the time of publication. These views are subject to change without notice of any kind. The information on this Web site does not constitute an offer for products or services, or a solicitation of an offer to any persons outside of the U.S. who are prohibited from receiving such information under the laws applicable to their place of citizenship, domicile, or residence, and is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation, or which would subject Putnam Investments or its affiliates to any registration requirement within such jurisdiction or country. Further, this does not constitute an offer of products or services with regard to any fund, investment scheme, or pooled investment (except defined contribution related materials that contain information about mutual funds that are available to U.S. investors only).

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