INVESTORS Login About Putnam Careers Contact us Products How we invest Retirement College savings Perspectives Forms Tax center My accounts Home How we invest Portfolio manager commentary Email LinkedIn Twitter Facebook ACTIVE INVESTING Portfolio manager commentary SEE THE LATEST MARKET VIEWS Putnam Dynamic Asset Allocation Funds Jason Vaillancourt, CFA, Co-Head of Global Asset Allocation, discusses reasons to reduce equity, credit, and commodity allocations as year-end approaches. October 2021 videos: Play Video Play Video Play Video Putnam Multi-Cap Core Fund Portfolio Manager Jerry Sullivan explains how an active approach helps identify sectors that may be poised for a rebound and why he has a positive outlook for equities. July 2021 videos: Play Video Play Video Play Video Putnam Small Cap Value Fund Portfolio Manager Michael Petro describes the fund’s strategy, its strong 2021 performance, and his positive outlook for the market. July 2021 videos: Putnam Tax-free Income Funds Portfolio Managers Paul Drury and Garrett Hamilton offer an update on the municipal bond market and trends driving performance. October 2021 videos: Play Video Play Video Play Video Quarterly fund commentaries Convertible Securities Fund Convertibles retreat amid inflation and growth concerns Read now Download PDF Diversified Income Trust Risk assets, rate strategy struggle amid uncertain backdrop Read now Download PDF Dynamic Asset Allocation Funds Markets fluctuate as central banks signal shift from pandemic stimulus Read now Download PDF Emerging Markets Equity Fund Emerging market stocks navigate seesawing markets Read now Download PDF Floating Rate Income Fund Loans post modest gain amid fluctuating interest-rate backdrop Read now Download PDF Global Income Trust Yield-curve strategy hurt amid mounting uncertainty Read now Download PDF Growth Opportunities Fund Style preferences fluctuate in a challenging quarter Read now Download PDF High Yield Fund High yield generates modest gain amid Fed tapering signals Read now Download PDF Income Fund Risk assets post muted results amid growing uncertainty Read now Download PDF Large Cap Value Fund Pendulum swings between style preferences Read now Download PDF Multi-Asset Absolute Return Fund Risk-off sentiment hampers strategies Read now Download PDF Retirement Advantage Funds Markets take Fed talk on tapering, rates in stride Read now Download PDF Small Cap Growth Fund Fund outperforms in challenging quarter for small caps Read now Download PDF Sustainable funds Thematic focus continues through challenging quarter for growth stocks Read now Download PDF Tax-free income funds Inflation and rate fears weigh on municipals Read now Download PDF Ultra Short Duration Income Fund Bond markets brace for higher rates Read now Download PDF Learn about our active strategies GROWTH OPPORTUNITIES How we invest Putnam Growth Opportunities Fund LARGE CAP VALUE How we invest Putnam Large Cap Value Fund GEORGE PUTNAM How we invest Why we diversify across asset classes George Putnam Balanced Fund PUTNAM PANAGORA How we invest Putnam PanAgora fund GLOBAL ASSET ALLOCATION STRATEGIES How we invest Putnam dynamic asset allocation funds ACTIVE INCOME STRATEGIES How we invest Putnam taxable income funds ESG AND SUSTAINABILITY STRATEGIES How we invest Putnam sustainable equity funds TAX-FREE INCOME STRATEGIES How we invest The muni bond advantage — across 50 states Putnam tax-free income funds Products Annuities Closed-end funds College savings Mutual funds Active ETFs Retirement plans/DCIO Insights Market Outlooks Perspectives Wealth Management [ADVISOR-ONLY] Research tools FundVisualizer® [ADVISOR-ONLY] Muni bond advantage PlanVisualizer™ [ADVISOR-ONLY] TargetDateVisualizer® [ADVISOR-ONLY] Tax-equivalent yield calculator Investment strategies 4- and 5-star funds How we invest Account support Shareholder accounts Contact Putnam Forms and applications Support and FAQs Tax center About Putnam Careers Contact us Newsroom Site map Sustainability at Putnam BY USING THIS SITE, YOU ACKNOWLEDGE AND AGREE TO THE FOLLOWING DISCLAIMER AND TERMS AND CONDITIONS: The third-party information accessible through this site was prepared by, and is the sole responsibility of, independent providers who are not affiliated with Putnam. 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