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Putnam Floating Rate Income A PFLRX

Analyst rating as of
NAV / 1-Day Return
7.73  /  0.03 %
Total Assets
466.6 Mil
Adj. Expense Ratio
1.040%
Expense Ratio
1.040%
Fee Level
Average
Longest Manager Tenure
14.43 years
Category
Bank Loan
Credit Quality / Interest Rate Sensitivity
Low / Limited
Min. Initial Investment
0
Status
Open
TTM Yield
3.05%
Effective Duration
0.01 years

Morningstar’s Analysis

Will PFLRX outperform in future?

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

A slim team, pulled in too many directions, manages this bank loan fund.

Senior Analyst

Summary

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Putnam has hired two new credit analysts and plans to hire more in 2022, but the team behind Putnam Floating Rate Income is stretched following a few years of significant turnover, 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 others.

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