While the managers backing Putnam Floating Rate Income are experienced, the team of analysts supporting the strategy has been in flux recently. Coupled with an undistinctive process that has led to mediocre long-term returns, it supports a Morningstar Analyst Rating of Neutral for all share classes but one that receives a Negative rating due to its high price.
Will PFLLX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PFLLX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the PFLLX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of PFLLX’s parent organization’s priorities and whether they’re in line with investors’ interests.