The team behind Putnam Floating Rate Income is stretched thin following a few years of significant turnover. It is being consciously downsized, and its undistinctive process has failed to stand out among its peers. The strategy earns a Morningstar Analyst Rating of Neutral for the Y and R6 share classes and Negative for the other share classes.
Putnam Floating Rate Income C PFICX
NAV / 1-Day Return
8.28
/
0.02
%
Total Assets
466.6 Mil
Adj. Expense Ratio
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
1.790%
Expense Ratio
1.790%
Fee Level
Above Average
Longest Manager Tenure
16.82
years
Category
Bank Loan
Credit Quality / Interest Rate Sensitivity
Low / LimitedMin. Initial Investment
0
Status
Open
TTM Yield
1.87%
Effective Duration
0.04
years
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Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
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.
A slim team, pulled in too many directions, manages this bank loan fund.
