About Putnam Careers Contact us Individual Investors Financial Advisors Institutional Investors 401(k) Plans DCIO Account Access About Putnam Proxy voting Share: PROXY VOTING Putnam mutual funds and exchange-traded funds have guidelines for proxy voting that support the interests of fund shareholders and encourage strong corporate governance practices at companies in which the funds invest. PROXY VOTING – THE PUTNAM FUNDS PROXY VOTING – PUTNAM EXCHANGE-TRADED 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. Putnam and the Putnam Funds' independent trustees are committed to managing our mutual funds in the best interests of our shareholders. The independent Trustees of The Putnam Funds, through the Trustees' Board Policy and Nominating Committee and with the assistance of a member of the Trustees' independent administrative staff, the Director of Proxy Voting and Corporate Governance, exercise control over the Funds' proxy voting. The Trustees of The Putnam Funds are committed to promoting strong corporate governance practices and encouraging corporate actions that enhance shareholder value through the judicious voting of the Funds' proxies. The Putnam Funds have had detailed proxy voting guidelines in place for many years. Each year, the Board Policy and Nominating Committee of the Board of Trustees reviews the proxy voting guidelines and considers whether any changes are appropriate, recommending any changes to the proxy voting guidelines to the Trustees for approval. A message to shareholders from the Chair of the Trustees of the Putnam Funds (PDF) 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. Contact us and related information Nancy Florek Director, Proxy Voting & Corporate Governance 100 Federal Street Boston MA 02110 (617) 292-1000 Monday – Friday: 8:30 a.m. – 5:00 p.m. Eastern Time 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 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 Director of Proxy Voting and Corporate Governance, 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 Director of Proxy Voting and Corporate Governance Voting procedures for referral items Conflicts of interest