About Putnam Contact us Individual Investors Financial Advisors RIAs Institutional Investors 401(k) Plans DCIO Home About Putnam Proxy Voting Proxy voting Putnam is committed to managing our mutual funds in the best interests of our shareholders. There are two ways we can help ensure that the companies in which the Putnam Funds invest maximize shareholder value. Putnam’s investment professionals seek to invest in companies that are well managed and have strong corporate governance practices. We also recognize that, as investors in those companies, the funds can influence their corporate governance policies through the proxy voting process, in which the Trustees of the funds, through their administrative staff, cast the Trustees’ votes on behalf of the funds. Through proxy voting, the Trustees seek to make company management accountable and to align the interests of management with those of shareholders of the funds. A message to shareholders from the Chair of the Trustees of the Putnam Funds (PDF) The Putnam Funds have had detailed proxy voting guidelines in place for many years. The Trustees of the funds work with Putnam’s investment management professionals to establish the guidelines, and review and approve them each year. In January 2003, the SEC approved a rule to require mutual funds to disclose their proxy voting guidelines, as well as their proxy voting records, to shareholders. The Putnam Funds’ proxy voting guidelines, and additional information about the funds’ corporate governance policies, are now available. Q&A What is corporate governance? What is a proxy vote? Why is proxy voting of interest to shareholders? What do the SEC proxy rules require? Do the Putnam Funds have proxy voting guidelines? What issues do the proxy voting guidelines cover? What is the intent of the Putnam Funds' proxy voting guidelines? What is the essence of the Putnam Funds' guidelines? Who is responsible for proxy voting for the Putnam Funds? Are there situations not covered by the guidelines? How will the SEC requirements affect the Putnam Funds' voting on proxy issues? How else do the Putnam Funds support shareholder interests? Will the Putnam Funds provide the results of their proxy voting to shareholders? Procedures The proxy voting procedures below explain the role of the funds' Trustees, the proxy voting service, and the Proxy Manager, as well as how the process will work when a proxy question needs to be handled on a case-by-case basis, or when there may be a conflict of interest. The role of the funds' Trustees The role of the proxy voting service The role of the Proxy Manager Voting procedures for referral items Conflicts of interest Contact us One Post Office Square Boston MA 02109 (617) 292-1000 Monday – Friday: 8:30 a.m. – 5:00 p.m. Eastern Time Related information Corporate governance practices Corporate governance policies through the proxy voting process A message to shareholders from the Chair of the Trustees of the Putnam Funds (PDF) Proxy voting guidelines (PDF) Form N-PX filings Proxy voting records Investment Choices Mutual Funds College Savings Research White Papers Putnam Perspectives Video Updates Calculators and tools CD vs Muni Bond College Savings Roth IRA For advisors FundVisualizer® Investment strategies Company About Putnam Careers Site Map Find us Contact us Newsroom Request a prospectus, a summary prospectus if available, or an offering statement from your financial representative, by calling Putnam at 1-800-225-1581, or click on the prospectus section. The prospectus and offering statement, which you should read and consider carefully before investing, include investment objectives, risks, fees, expenses, and other information about the funds, Putnam 529 for America, or the variable annuity or variable life product that invests in Putnam-managed products. Putnam business resiliency plan (PDF) Audit, Compliance and Distributions Committee Charter (PDF) Board Policy and Nominating Committee Charter (PDF) © Putnam Retail Management