3 Top-Ranked Putnam Mutual Funds To Invest In
Since its first fund in 1937, Putnam Investments has gradually evolved as one of the most renowned financial investment companies in the world. Putnam had assets of $171 billion under its management as of November 2017, of which mutual fund assets comprised $79 billion. The fund family allocated its assets in more than 70 mutual funds including both equity and fixed income funds.
The company has over 180 investment professionals and provides a wide range of financial services including 60 institutional strategies. It now has a presence in North America, Europe, and Asia with offices in London, Boston, Tokyo, Frankfurt, Singapore, and Sydney.
Below we share with you three top-ranked Putnam mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of Putnam Investment funds.
Putnam Global Equity A (PEQUX - Free Report) seeks growth of capital. PEQUX invests heavily in common stocks of mid- and large-cap companies, which have strong investment prospects. The fund invests not only in developed countries but also in emerging markets. Putnam Global Equity A has one-year annualized returns of 26.4%.
As of September 2017, PEQUX held 148 issues, with 2.98% of its assets invested in Alphabet Inc.
Putnam Tax-Free High Yield Y (PTFYX - Free Report) invests primarily in bonds that offer federal income tax exempted interest. PTFYX seeks growth of income by investing in investment-grade and below-investment-grade securities, which have maturities of three years and more. Putnam Tax-Free High Yield Y has one-year annualized returns of 8.5%.
Garrett Hamilton is one of the fund managers of PTFYX since 2016.
Putnam Global Technology A (PGTAX - Free Report) seeks appreciation of capital. PGTAX invests the lion’s share of its assets in securities of technology companies. The fund invests mainly in large- and mid-cap tech companies that are expected to have encouraging investment prospects. Putnam Global Technology A has one-year annualized returns of 45.9%.
PGTAX has an expense ratio of 1.28% as compared with the category average of 1.44%.
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All types of investments come with some sort of risk and normally has its ups and downs. The same can be said for mutual fund investments although the level of risk is much lower then investing in directly into stocks since a mutual fund is a collective investment that uses money from the investor to purchase a group of investments as the value of those investments increase and decrease so to does the value of the fund.