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Address And Details

One Post Office Square , Canton, MA 02109
Fund Manager Team Managed
Manager Tenure

Strategy And Objective

Putnam Fixed Income Absolute Return Fund seeks positive total return. This section contains greater detail on the funds main investment strategies and the related risks you would face as a fund shareholder. It is important to keep in mind that risk and reward generally go hand in hand; the higher the potential reward, the greater the risk. The use of the term. absolute return in the funds name is meant to distinguish the funds goal and investment strategies from those of most other mutual funds available in the marketplace. Most mutual funds are generally managed with a goal of outperforming an index of securities or an index of competitive funds. As a result, even if such funds are successful in achieving their goals, their investment returns may be positive or negative and will tend to reflect the general direction of the markets. In addition, these other mutual funds can expose investors to significant market volatility and sustained periods of negative performance. Volatility refers to the tendency of investments and markets to fluctuate in value over time. The greater an investments or a markets volatility, the more sharply its value may fluctuate. A mutual funds volatility is often measured as the standard deviation of such funds monthly returns and expressed as a percentage. In contrast, the funds absolute return strategy seeks to earn a positive total return over a reasonable period of time, regardless of market conditions or general market direction, since investment returns will likely fluctuate more over shorter periods of time as market conditions vary, even under an absolute return strategy. As a result, if this strategy is successful, investors should expect the fund to outperform the general securities markets during periods of flat or negative market performance, to under perform during periods of strong positive market performance, and typically to produce less volatile returns over a reasonable period of time (a full market cycle, which is generally at least three years but may potentially be significantly longer) than has been historically associated with traditional asset classes that have earned similar levels of return over long historical periods. The following sections describe the funds main investment strategies. As a general matter, the fund has significant flexibility in its choice of strategies. This flexibility enhances the funds ability to seek positive total return. This flexibility is also generally expected to result in diversification of the funds portfolio across multiple asset classes, although the fund may focus its investments on particular asset classes from time to time. Diversification generally limits market exposure to any asset class and helps to reduce the volatility of returns. We seek to efficiently mix a number of independent global fixed income investment strategies. These strategies may be based on security selection, allocation among sub-sectors of the fixed income market (such as the investment-grade and below-investment-grade sub-sectors within the credit sector), macroeconomic developments (such as those relating to currencies and country-specific developments), and other techniques. By using a number of strategies, the fund may take advantage of todays global fixed income markets, which are complex, rapidly evolving, and characterized by newly defined instruments, sub-sectors, and derivatives that, we believe, offer substantial opportunities. We may invest without limit in all available global fixed income instruments, including lower-rated debt, to diversify portfolio exposure regardless of market conditions.

Net Asset Value

as of 5:54 PM ET 01/21/2022

Performance

  • 1 Week
  • -1.06%
  • 1 Month
  • -0.39%
  • 3 Months
  • -0.49%
  • 1 Yr Return
  • -1.35%
  • 5 Yr Return
  • -11.18%

Equity Sector Breakdown

Finance 12.19%
RetailTrade 3.13%
Technology 2.84%
IndustrialCyclical 2.33%
NonDurables 0.83%
Health 0.29%
Energy 0.27%
ConsumerDurables 0.11%
Services n/a
Utilities n/a

Asset Allocation

Asset Type % Of Allocation
Stocks 18.23%
ForeignStocks 13.70%
Other 7.00%
Cash 0.00%
Bonds 0.00%
Preferred 0.00%
Convertible 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Total Net Assets 169.58 M

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha -4.31 -3.74 -1.65
Beta 0.13 0.14 0.19
R Squared 0.17 0.18 0.26
Std Deviation 5.47 5.19 4.90
Sharpe Ratio -0.23 -0.26 n/a

Purchase Information

as of 5:57 PM ET 01/20/2022
Minimum Initial $500
Minimum Additional $0
Minimum Initial IRA $0

Performance

Timeframe Average Annual Current Performance Monthly As Of 12/31/2021 Average Annual Current Performance Quarterly As Of 12/31/2021 Avg Annual Current Performance Monthly As Of 12/31/2021 Avg Annual Current Performance Quarterly As Of 12/31/2021
1 Year
  • +1.07%
  • +1.07%
+1.07% +1.07%
3 Year
  • -0.59%
  • -0.59%
-0.59% -0.59%
10 Year
  • +1.80%
  • +1.80%
+1.80% +1.80%
Life Of Fund
  • +2.75%
  • +2.75%
+2.75% +2.75%

Top 10 Holdings

Symbol Company Name % Of Assets
CPBD TOTAL*CORPORATE BONDS 7.74%
SHRT TOTAL*SHORT TERM INVESTMENTS 61.25%
MORTSEC TOTAL*MORTGAGE SECURITIES 42.77%
XLE ENERGY SELECT SECTOR SPDR FND 3.78%
XLF FINANCIAL SELECT SECTOR SPDR 3.56%
XLB SPDR MATERIALS SELECT SECTOR 1.62%
XLC COMMUNICAT SVS SLCT SEC SPDR 1.61%
WARR TOTAL*WARRANTS 1.33%
ASB TOTAL*ASSET BACK SECURITIES 1.29%
FNBD TOTAL*FOREIGN BONDS 1.10%

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