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Morningstar

Putnam Floating Rate Income C PFICX

Morningstar Analyst Rating
Analyst rating as of
  • NAV / 1-Day Return 7.92  /  0.18 %
  • Total Assets 369.6 Mil
  • Adj. Expense Ratio
    —
  • Expense Ratio 1.750%
  • Distribution Fee Level Average
  • Share Class Type Level Load
  • Category Bank Loan
  • Credit Quality / Interest Rate Sensitivity Low / Limited
  • Min. Initial Investment 0
  • Status Open
  • TTM Yield 3.88%
  • Effective Duration 0.10 years

USD | NAV as of Jan 27, 2023 | 1-Day Return as of Jan 27, 2023, 11:12 PM GMT+00:00

Morningstar’s Analysis PFICX

Will PFICX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PFICX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the PFICX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of PFICX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Positive changes.

Senior Analyst

Summary

| by Peter Marchese

Putnam Floating Rate Income benefited from positive changes in the team helming this bank loan strategy during 2022. A new dedicated team of loan managers and analysts was created, centered around three veterans who joined the firm in 2021, each with extensive experience in the sector. It’s too soon to gauge this team’s effectiveness, so the strategy maintains a Morningstar Analyst Rating of Neutral for the Y and R6 share classes and Negative for the other share classes.

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