2 Newly Rated Putman Funds Worth Buying

NEW YORK ( TheStreet Ratings) -- TheStreet.com Ratings initiated coverage of 11 stock mutual funds that accrued a sufficient track record of risk and performance data by the end of May 2012. Two stock mutual funds start out in the 'Buy' range.

Seven additional unique funds begin at 'Hold'. Two stock mutual funds begin at 'Sell' with grades of D+ or worse after underperforming alternative stock mutual fund investments over the past three years on a risk-adjusted return basis.

Here are the two newly rated stock mutual funds ranked at 'Buy':

-----------------------------

2. Putnam Equity Spectrum A

Putnam Equity Spectrum A ( PYSAX) has an investment objective to seek capital appreciation. The fund invests a majority of its assets in equity securities of small and midsized leveraged U.S. companies that have favorable investment potential including both growth and value stocks. The fund invests at least 80% of its net assets in equity investments and may also invest in foreign securities including emerging market securities. The fund may also invest in fixed income securities, use derivatives and engage in short sales of securities.

Expense Ratio: 1.81%

Three Year Total Return: 24.9%

Rated "B" by TheStreet Ratings:

-----------------------------

1. Putnam Capital Spectrum Fund A

Putnam Capital Spectrum Fund A ( PVSAX) has an investment objective to seek total return. The fund invest mainly in equity and fixed income securities, including bank loans, of leveraged U.S. companies that have favorable investment potential. The fund invests mainly in small and midsized leveraged companies, although it can invest in companies of any size. The fund may also invest in fixed income securities of other issuers, including mortgage-backed and other asset-backed securities, as well as foreign securities including emerging market securities and derivatives.

Expense Ratio: 1.50%

Three Year Total Return: 21.8%

Rated "A+" by TheStreet Ratings:

-----------------------------

Here are the seven newly rated stock mutual funds ranked at 'Hold':

7. Nuveen Winslow Large Cap Growth A

Nuveen Winslow Large Cap Growth A ( NWCAX) has an investment to provide long-term capital appreciation. To achieve its investment goal, the fund may invest at least 80% of its net assets in equity securities of U.S. companies with market capitalizations in excess of $4 billion. The fund may invest up to 20% of its net assets in non-U.S. equity securities. The fund selects securities based on fundamental bottom-up investment research combined with attention to valuation.

Expense Ratio: 1.18%

Three Year Total Return: 14.4%

Rated "C-" by TheStreet Ratings:

-----------------------------

6. Ivy Tax-Managed Equity A

Ivy Tax-Managed Equity A ( IYEAX) has an investment objective to provide long-term growth of capital while minimizing taxable gains and income to shareholders. The fund invests at least 80% of its net assets in equity securities, primarily common stocks and securities convertible into common stocks. The fund typically invests in the common stocks in companies of any size, any industry or any country in order to achieve its objective. The fund utilizes a bottom-up research strategy to identify its investments.

Expense Ratio: 2.75%

Three Year Total Return: 11.1%

Rated "C-" by TheStreet Ratings:

-----------------------------

5. Currency Strategies

Currency Strategies ( FOREX) seeks capital appreciation and income. The fund invests primarily in exchange traded products and/or mutual funds, the values of which are tied to currency prices. Exchange traded products include exchange traded funds and exchange traded notes. The fund also utilizes an absolute return strategy with currency investing.

Expense Ratio: 2.61%

Three Year Total Return: -0.6%

Rated "C" by TheStreet Ratings:

-----------------------------

4. JPMorgan Strategic Preservation A

JPMorgan Strategic Preservation A ( JSPAX) has an investment objective to provide a total return from a diversified portfolio of stocks and bonds. The fund invests in U.S. equity, foreign equity and fixed income investments based on the following asset allocation model, up to 40% equity securities, up to 60% convertible bonds. The whole portfolio may be invested in fixed income securities or cash instruments when deemed appropriate. The fund may invest in any number of countries and types of currencies. The fund combines aggressive tactical asset allocation with dynamic security selection.

Expense Ratio: 1.57%

Three Year Total Return: 1.67%

Rated "C" by TheStreet Ratings:

-----------------------------

3. Turner Spectrum Fund Inv

Turner Spectrum Fund Inv ( TSPCX) has an investment objective to provide long term growth of capital. The fund seeks to achieve its investment objective by allocating its assets to various investment strategies such as, global consumer, long/short equity, global financial services, global medical sciences, select opportunities, and market neutral. The fund invests primarily in common stocks and other equity securities of U.S. and foreign companies of any capitalization. The fund may also invest a portion of its assets in cash or cash equivalents.

Expense Ratio: 2.75%

Three Year Total Return: 4.6%

Rated "C" by TheStreet Ratings:

-----------------------------

2. CMG Absolute Return Strategies A

CMG Absolute Return Strategies A ( CMGTX) seeks capital appreciation. The fund invests primarily in equity and fixed income securities of U.S. companies, both directly and indirectly through mutual funds, including open-end funds, closed-end funds and exchange-traded funds.

Expense Ratio: 3.31%

Three Year Total Return: 0.94%

Rated "C" by TheStreet Ratings:

-----------------------------

1. FundX Tactical Total Return Fund

FundX Tactical Total Return Fund ( TOTLX) seeks long-term capital appreciation and current income with an emphasis on risk management. The fund will typically hold a combination of core equity, balanced and fixed income mutual funds, as well as ETFs, and will emphasize risk management in structuring the portfolio.

Expense Ratio: 2.94%

Three Year Total Return: 4.48%

Rated "C" by TheStreet Ratings:

-----------------------------

Here are the two newly rated stock mutual funds ranked at 'Sell':

-----------------------------

2. Toews Hedged Emerging Markets

Toews Hedged Emerging Markets ( JVTAX) seeks to provide long-term growth of capital. The fund is intended for investors who want to participate in the global emerging markets and also want to limit investment risk in periods when markets are falling in value.

Expense Ratio: 2.15%

Three Year Total Return: -5.8%

Rated "E-" by TheStreet Ratings:

-----------------------------

1. Mutual International A

Mutual International A ( FMIAX) has a principal investment goal of capital appreciation. Its secondary goal is income. Under normal market conditions, the fund invests at least 80% of its net assets in securities of non-U.S. issuers. The fund invests primarily in securities of Asian and European companies that are considered to be undervalued. The fund also may invest up to 20% of its total assets in securities of U.S. issuers, and securities of issuers from the remaining regions of the world. The fund employs a research driven, fundamental value strategy for its investments.

Expense Ratio: 2.10%

Three Year Total Return: 7.82%

Rated "D+" by TheStreet Ratings:

-----------------------------

Research Methodology

TheStreet.com Ratings condenses the available fund performance and risk data into a single composite opinion of each fund's risk-adjusted performance. This allows the unbiased identification of those funds that have historically done well and those that have underperformed the market. While there is no guarantee of future performance, these Investment Ratings provide a solid framework for making informed, timely investment decisions. In order to qualify for a rating, an open-end fund must either have three years of risk and return data or be an additional share class of an existing fund with at least three years of performance statistics.

Funds rated A or B are considered "Buy" rated based on a track record of higher than average risk-adjusted performance. Funds at the C level are rated as "Hold," while underperformers at the D and E levels our model ranks as "Sell."

-- Reported by Kevin Baker in Jupiter, Fla.

Kevin Baker became the senior financial analyst for TheStreet Ratings upon the August 2006 acquisition of Weiss Ratings by TheStreet.com, covering equity and mutual fund ratings. He joined the Weiss Group in 1997 as a banking and brokerage analyst. In 1999, he created the Weiss Group's first ratings to gauge the level of risk in U.S. equities. Baker received a B.S. degree in management from Rensselaer Polytechnic Institute and an M.B.A. with a finance specialization from Nova Southeastern University.

More from Emerging Markets

U.S. Considers New Tariffs on Imported Vehicles

U.S. Considers New Tariffs on Imported Vehicles

Video: Here's How Global Stocks Can Boost Your Portfolio

Video: Here's How Global Stocks Can Boost Your Portfolio

Wall Street Looks To Extends Gains After Goldman Earnings Beat, China Data

Wall Street Looks To Extends Gains After Goldman Earnings Beat, China Data

China's President Xi Jinping Tells Boao Forum He Supports Opening Markets

China's President Xi Jinping Tells Boao Forum He Supports Opening Markets

U.S. Stock Futures Steady; Asia Stocks Mostly Lower

U.S. Stock Futures Steady; Asia Stocks Mostly Lower